E.ON’s spin off firm starts trading

Trading in E.ON’s spin off firm has officially started today. The shares of Uniper, which is made of the German company’s hydro, natural gas, coal plants and global energy trading operations, […]

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By Jacqueline Echevarria

Trading in E.ON’s spin off firm has officially started today.

The shares of Uniper, which is made of the German company’s hydro, natural gas, coal plants and global energy trading operations, have been traded on the Frankfurt stock exchange for the first time.

Its shares started trading at more than €10 (£8.4).

E.ON CEO Johannes Teyssen said: “E.ON and Uniper now have every opportunity to be successful with their clear focus on their respective segments of the energy industry. They can now develop without compromises and serve the needs of their respective customers.

“This strategy is the right way forward for E.ON, for Uniper and for the customers, shareholders and employees of both companies. The new and the classical energy worlds are so fundamentally different that they each require a totally different entrepreneurial approach.”

Last month, E.ON reported a net loss of €3.03 billion (£2.57bn) in the first six months of this year.