E.ON: to tender Uniper shares to Fortum
(CercleFinance.com) - German utility giant E.
ON said late on Monday that it plans to tender its shares in former Uniper unit to bidder Fortum, a public takeover offer that was launched in November.
The statement means that the Essen-based company will sell its 46.65% stake in Uniper to the Finnish energy company for 22 euros per share, generating proceeds of around 3.8 billion euros.
E.ON CEO Johannes Teyssen said the transaction enables to sell the group's entire Uniper stake at an "attractive price," even though Uniper shares closed at 26 euros last night on the German stockmarket.
As a reminder, Uniper's board recommended shareholders not to accept Fortum's offer, saying that the price does not reflect the company's value.
Separately, E.ON said Johannes Teyssen's contract as CEO has been extended until the end of 2021.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
ON said late on Monday that it plans to tender its shares in former Uniper unit to bidder Fortum, a public takeover offer that was launched in November.
The statement means that the Essen-based company will sell its 46.65% stake in Uniper to the Finnish energy company for 22 euros per share, generating proceeds of around 3.8 billion euros.
E.ON CEO Johannes Teyssen said the transaction enables to sell the group's entire Uniper stake at an "attractive price," even though Uniper shares closed at 26 euros last night on the German stockmarket.
As a reminder, Uniper's board recommended shareholders not to accept Fortum's offer, saying that the price does not reflect the company's value.
Separately, E.ON said Johannes Teyssen's contract as CEO has been extended until the end of 2021.
Copyright (c) 2018 CercleFinance.com. All rights reserved.