giftedviz.com
giftedviz.com October 23, 2018


Eon to acquire Innogy from RWE in strategic renewables deal

13 March 2018, 03:50 | Austin Hogan

Reuters Thilo Schmuelgen

Reuters  Thilo Schmuelgen

Uwe Tigges, chief executive officer at innogy, said it would be commenting on announcements from RWE and E.On "in due course".

Following completion of the transaction, RWE would combine ownership of the renewables businesses of E.ON and innogy to create a leading European utility for renewables and security of supply with a broadly diversified portfolio of renewable and conventional generation assets, which would be linked via our existing trading business.

RWE, which owns 76.8 percent of Innogy, saw its shares gain as much as 14 percent and E.ON was up 6 percent.

"It was a competitive process", one of the sources said, adding that RWE had chose to strike the deal with E.ON after considering proposals from peers.

Innogy is understood to have been caught off-guard by the agreement struck by its parent company RWE over the weekend, but sources believe the company may already be developing contingency plans to steady the deal with SSE.

Elizabeth Warren rejects DNA test to settle Native American heritage claim
Last November Trump used the name at an event honoring Native American Code Talkers who served in World War II. Warren also confirmed that she has no plans of running against Trump in 2020.


Manchester's Piccadilly Station Closed As Protesters Storm Tracks
Police have successfully dealt with a large protest outside London Kings Cross station and the station has now been reopened. Meanwhile, many passengers reacted on social media platforms to the protest targeting Manchester Picadilly Station.


Tiger Woods rolls into a Valspar Championship Sunday chasing… Corey Conners
It was nice to get the momentum, keep the momentum going". "As I was walking off nine it showed 68 and that was at four (under)". This will be the fifth time Snedeker has played with Woods this year. "We've been hearing it all week", Rose said.


It would leave E.ON operating primarily as an energy networks and retail specialist, with RWE significantly strengthening its position in the renewables and clean energy generation markets.

Germany's power companies are reshaping as they look to boost green energy output, shift away from fossil fuels and prepare for Germany's exit from nuclear power in 2022. Further, RWE will receive the minority interests now held by E.ON's subsidiary PreussenElektra in the RWE-operated nuclear power plants Gundremmingen and Emsland.

And the deal could see the creation of a new European renewables giant.

RWE is being advised by Bank of America Merrill Lynch and Citi on the deal, E.ON has hired Perella Weinberg Partners and BNP.

The planned large-scale asset swap went down well with shareholders. Today it reported 2017 results, saying its adjusted net profit grew by 9% to more than Euro 1.22 billion.



Other News

Trending Now

Shoe hurled at former PM Nawaz Sharif at madrasa in Lahore
PTI leader Shah Mehmood Qureshi said neither it was their practice nor it was their way of politics. The attackers were identified as former students of the seminary.

Lisa Bonet Could Always Sense a 'Sinster, Shadow Energy' in Bill Cosby
Lisa Bonet has finally broken her silence about Bill Cosby and now we know why she waited so long. She's just as disgusted and concerned as everyone else is, but I don't think she has any insight.

Benchmark indices surge ahead of release of industrial production data
At 11.06 a.m, the Sensex was trading up 317.57 points or 0.95% at 33,624.71 with 24 components gaining. The share indices traded on a firm note with broad based gains, led by consumption-themed stocks.

Light snow possible Monday
The heaviest snow should wind down early Tuesday evening, but the Tuesday evening commute may be significantly impacted. Temperatures will then drop after the sun sets, inviting a chance for sleet and snow flurries after 3 a.m.

Tim McGraw collapses on stage during concert
Tim McGraw was performing on stage with his wife Faith Hill when the concert had to be cut short after he fell ill on stage. After a while, McGraw's wife and co-headliner Faith Hill came out to tell the crowd McGraw could not finish the concert.

Swansea had to defend after Ayew's sending off, says Carvalhal
Swansea boast of 31 points from 30 games to place 14th in the English Premier League . The tension ratcheted up a notch on the hour.

BJP names Rajeev Chandrasekhar as Rajya Sabha candidate from Karnataka
In the 245-member Upper House of Parliament, Uttar Pradesh has 31 seats being the most populous state of the country. In the UP Assembly, the BJP and its allies now have 324 seats (BJP's Noorpur MLA died recently in a road accident).

Wallace overcomes Sharma to win Indian Open
I'm very pleased with the birdie at the last, which allowed me to grab a share of the lead. "I also can't wait for the Masters". Wallace and Johnston played the way Emiliano Grillo did on first two days and then Shubhankar played on the second day.

Williams sisters to meet at Indian Wells after Serena outlasts Kiki Bertens
Bertens won just 55 percent of her service points, and Williams managed to convert five of her nine break-point opportunities. Elsewhere on Saturday, fourth seeded Elina Svitolina defeated Germany's Mona Barthel 6-4, 6-3.

Syracuse grad Sean McDonough leaving 'Monday Night Football' for ESPN college football
Jon Gruden's return to the sideline has prompted a full-on reboot of ESPN's " Monday Night Football ". The NY Post is reporting that Joe Tessitore will be Monday Night Football's new play-by-play man.