Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  E.ON    EOAN   DE000ENAG999

E.ON (EOAN)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Uniper CEO says takeover by Fortum not a done deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2018 | 05:04pm CEST
The logo of Uniper SE is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba

DUESSELDORF (Reuters) - An agreement for Finland's Fortum (>> Fortum Oyj) to buy a 46.65 percent stake in German energy group Uniper (>> Uniper SE) from E.ON (>> E.ON) could face intense scrutiny in Russia, Uniper's Chief Executive Klaus Schaefer told journalists on Thursday.

DUESSELDORF (Reuters) - An agreement for Finland's Fortum to buy a 46.65 percent stake in German energy group Uniper from E.ON could face intense scrutiny in Russia, Uniper's Chief Executive Klaus Schaefer told journalists on Thursday.

State-controlled Fortum has committed to seek regulatory approval for the deal from relevant jurisdictions, including Russia, by Oct. 31 at the latest, according to official offer documents. Securing approval in Russia, where Uniper operates several power plants, could be challenging, Schaefer said, pointing to a law that effectively prohibits foreign states or state-owned entities from gaining control over assets deemed as strategic. "And that is the case for our activities," Schaefer said. "This law has a high relevance and therefore you have to consider how such an approval could look like, or not." A Fortum spokeswoman said the Finnish company had filed for merger approval in Russia, as well as approval under the Russian strategic investment act, and expects both applications to be cleared.Russia's Federal Antimonopoly service in October voiced concern about the deal, which would involve the purchase of more than 25 percent of Uniper's Russian assets (>> Yunipro PAO). Fortum was offered only 0.47 percent of Uniper shares in a tender that expired in February, on top of a 46.65 percent stake it negotiated separately with E.ON, after Uniper’s management advised shareholders not to tender their shares.

Uniper fought against the bid, saying it was hostile and too low and that the combination would make little sense given its heavy exposure to gas and coal-fired power plants while Fortum’s focus is on clean technologies. Separately, Fortum said some of its own investors had complained the Uniper deal would raise the company's carbon footprint, and had also voiced scepticism over the involvement in building the Nord Stream 2 pipeline for Russian gas. "Many stakeholders such as SRI (socially responsible investors) have contacted Fortum to discuss the bid. The main concern ... has been the strategic fit of Uniper's fossil-based production with Fortum low-carbon assets," it said. The company defended its plans, however, arguing conventional energy production was still needed to ensure affordable security of supply in Europe. "Fortum acknowledges that not only the use of coal but also the origin of coal is a source of concern to some stakeholders ... Uniper is much more than a coal company," it said. While Fortum supports a phase-out of power generated from coal, this should be achieved within the European Union's emissions trading scheme (ETS), the company added.

(Reporting by Christoph Steitz, Vera Eckert, Tuomas Forsell from Helsinki and Lefteris Karagiannopoulos from Oslo; Editing by David Goodman and Mark Potter)

Stocks treated in this article : Fortum Oyj, E.ON, Yunipro PAO, Uniper SE
Stocks mentioned in the article
ChangeLast1st jan.
E.ON 3.64% 8.992 Delayed Quote.-0.76%
FORTUM OYJ 1.16% 21.82 Delayed Quote.32.24%
UNIPER SE 0.96% 26.36 Delayed Quote.1.38%
YUNIPRO PAO --End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on E.ON
09/21Soaring British winter gas prices point to energy price cap increase
RE
09/21E ON : Digital technology increases grid efficiency
PU
09/21E.ON SE : Digital technology increases grid efficiency
EQ
09/19E.ON SE : Release according to Article 40, Section 1 of the WpHG [the German Sec..
EQ
09/19E ON : German network of charging stations increasing in density
PU
09/18E ON : presents the Festival of Lights
PU
09/12Higher gas prices and hot summer take wind out of SSE's sails
RE
09/06UK regulator caps energy prices to save households about a billion pounds a y..
RE
09/06UK regulator sees lower profit for utilities after price caps
RE
08/23E ON : is looking for the best light artists from Europe
PU
More news
News from SeekingAlpha
08/12E.ON SE 2018 Q2 - Results - Earnings Call Slides 
08/12E.ON SE (ENAKF) Q2 2018 Results - Earnings Call Transcript 
08/08E.ON SE ADR 2018 Q2 - Results - Earnings Call Slides 
08/08E.ON SE reports Q2 results 
06/07E.ON (EONGY) Presents At Credit Suisse 2018 Global Energy Conference - Slides.. 
Financials (€)
Sales 2018 36 261 M
EBIT 2018 2 919 M
Net income 2018 1 465 M
Debt 2018 15 066 M
Yield 2018 4,82%
P/E ratio 2018 12,66
P/E ratio 2019 12,65
EV / Sales 2018 0,96x
EV / Sales 2019 0,96x
Capitalization 19 792 M
Chart E.ON
Duration : Period :
E.ON Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends E.ON
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 10,9 €
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Johannes Teyssen Chairman-Management Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Karsten Wildberger Chief Operating Officer-Commercial
Marc Spieker Chief Financial Officer
Ulrich Lehner Deputy Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
E.ON-0.76%23 251
ELECTRICITÉ DE FRANCE47.31%53 239
ENGIE-11.96%35 489
NATIONAL GRID PLC-10.03%34 962
SEMPRA ENERGY6.92%31 505
ORSTED23.12%27 281