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DGAP-News: E.ON SE: E.ON signs framework agreement with MVM Magyar Villamos Művek Zrt. and Opus Global Nyrt

Source: EQS

DGAP-News: E.ON SE / Key word(s): Investment
E.ON SE: E.ON signs framework agreement with MVM Magyar Villamos Művek Zrt. and Opus Global Nyrt

04.10.2019 / 13:08
The issuer is solely responsible for the content of this announcement.


E.ON signs framework agreement with MVM Magyar Villamos Művek Zrt. and Opus Global Nyrt

E.ON Hungária to optimise its business portfolio through strategic asset swap to secure balanced, robust business operations and accelerate integration of innogy's Hungarian assets

The new E.ON

On September 18, E.ON SE completed the acquisition of RWE's 76.8% stake in innogy. This transaction is a major step in our goal to become a company that shapes the future of energy with a visionary focus. Customers are at the centre of the new, decentralised energy world, those companies that best understand the customer and have the innovative edge will prevail. The new E.ON has a clear focus on intelligent networks and customer solutions, achieving a favourable position to become one of the innovative drivers of the energy transition in Europe and responds to the needs of nearly 50 million of its European customers. The company provides more than 70,000 professionals with jobs and exciting career options and offers shareholders attractive value and growth prospects.

The new E.ON Hungária

Today we are announcing a series of agreements including a strategic asset swap which pave the way for the foundation of a new E.ON Hungária group, a company that will play an active part in the implementation of the national energy strategy of Hungary, offering smart, affordable and sustainable solutions as well as outstanding customer experience to all our Hungarian customers.

Being an integral part of the international E.ON Group and sharing its vision, E.ON Hungária will continue to focus its activities on providing customer-focused innovative and convenient energy solutions and on operating intelligent power and gas distribution networks, contributing to the well-being and the competitiveness of Hungarian people and economy.

Agreements and transaction steps

On 18 September2019, E.ON SE acquired a controlling stake in innogy SE. innogy is present on the Hungarian market as the majority shareholder of ELMŰ Nyrt. ("ELMŰ") and ÉMÁSZ Nyrt. ("ÉMÁSZ"). On 2 October 2019, E.ON Hungária acquired the 27% stake held by EnBW in ELMŰ and ÉMÁSZ.

On 3 October 2019, an umbrella agreement was signed between E.ON Beteiligungen GmbH, the sole shareholder of E.ON Hungária, and MVM Magyar Villamos Művek Zrt. (a shareholder of ELMŰ Nyrt. and ÉMÁSZ Nyrt.) ("MVM"), and Opus Global Nyrt ("Opus"). Under this agreement, E.ON intends to acquire the shares owned by MVM in ELMŰ and ÉMÁSZ followed by a series of other transactional steps that will create a balanced and optimised portfolio in Hungary that also enables the swift integration of innogy's assets.

In order to optimise its business portfolio and to create the basis for more geographically focused operations E.ON Hungária will further execute the following strategic transactions according to the terms and conditions of the umbrella agreement, which are conditional upon the usual regulatory approvals and in some cases the legal integration of ELMŰ and ÉMÁSZ into E.ON Hungária:

  • Sale of E.ON Tiszántúli Áramhálózati Zrt. power distribution business to Opus;
  • Sale of ÉMÁSZ Hálózati Kft. power distribution business to MVM;
  • Sale of 50% stake in Budapesti Dísz-és Közvilágítási Kft. public lighting business to MVM;
  • MVM to purchase 25% minority stake in E.ON Hungária as a financial investor.

Following the signing of the umbrella agreement, E.ON Hungária will commence the preparation necessary for the planned transactions. The final elements of the agreement are expected to close in 2021.

_________________________________________________________________________

Direct inquiries to:
Dr. Christian Drepper | T +49 201 184 3470 | christian.drepper@eon.com



04.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: E.ON SE
Brüsseler Platz 1
45131 Essen
Germany
Phone: +49 (0)201-184 00
E-mail: info@eon.com
Internet: www.eon.com
ISIN: DE000ENAG999
WKN: ENAG99
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 885427

 
End of News DGAP News Service

885427  04.10.2019 

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