Frankfurt am Main: German energy giant EON said it was in “advanced negotiations” to sell its remaining stake in fossil-fuels spinoff Uniper to Finland’s Fortum Oyi. Fortum would make a cash offer to all Uniper shareholders of €22 ($26.40) per share, a price that would value EON’s 46.65-percent stake at some €3.8bn. The two sides were in “advanced negotiations” about the proposed deal, which may be completed in “early 2018”, EON said in a statement.
“Certain questions” also remain to be clarified with authorities, the Essen-based group added. Chief executive Johannes Teyssen said in August that he was examining “all possible options” to dispose of EON’s remaining stake in Uniper. EON, one of Germany’s four largest energy companies, spun off its coal and gas power plants into Uniper in 2016 before floating it on the Frankfurt stock market.
