E.ON is expected to win EU antitrust approval to buy rival Innogy’s network and retail assets, sources said on Friday, July 12.
The green light from the European Commission is set to come after E.ON sweetened its concessions to address competition concerns, the sources, who are familiar with the matter, said.
The deal, which will mark the biggest overhaul of the German power industry since the country sped up its exit from nuclear energy, is part of a bigger asset swap with Innogy’s parent RWE and will more than double E.ON’s customers in Germany to nearly 14 million.
E.ON last month offered to sell part of its retail business in Hungary as well as Innogy’s retail power and gas business in the Czech Republic with 1.6 million customers, after the European Commission voiced concerns that the deal may reduce competition.
Full Content: Reuters
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