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E.ON: now controls 90% of innogy

(CercleFinance.com) - German utility giant E.
ON said it now owns 90% of innogy's share capital, putting it on track to gain full control of the German energy company.

The 76.8% stake in innogy previously held by RWE has been transferred to E.ON, the group said late on Wednesday.

Including the 9.4% stake already tendered by innogy's minority shareholders and the 3.8% stake that E.ON has acquired on the market, the company now holds 90% of total shares.

E.ON said it plans to buy out innogy's remaining minority shareholders by way of a merger squeeze-out, and thus become innogy's only shareholder.

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