Finland’s Fortum to launch €8bn bid for E.ON’s Uniper

Finnish power utility Fortum is to launch an €8 billion (£7bn) takeover offer for E.ON’s Uniper. The bid for E.ON’s 46.65% interest amounts to €3.76 billion (£3.3bn). The total equity value of the offer is €8.05 billion (£7.05bn) for all outstanding shares of Uniper. The firms have signed an agreement, under which E.ON has the […]

E.ON in advanced talks over Uniper sale

German energy company E.ON has advanced negotiations over the sale of its stake in its fossil generation business Uniper. It said Finnish utility Fortum is planning to buy a 46.65% stake in the spin-off firm. The energy supplier added in a statement: “Fortum’s offer to all Uniper shareholders would comprise a cash consideration with a […]

Five energy firms invest in Gazprom’s gas pipeline

Five European energy companies are to invest as much as €950 million (£807m) each to fund Gazprom’s gas pipeline. ENGIE, OMV, Shell, Uniper and Wintershall have signed financing agreements with Nord Stream 2 AG, the company responsible for the planning, construction and operation of the Nord Stream 2 pipeline. The 1,220-kilometre pipeline will have the […]

New £2.2m project aims to make bioenergy cheaper

A new £2.2 million project that aims to remove impurities from biomass and make bioenergy cheaper and more efficient has been launched. A prototype plant, which will pre-treat different forms of biomass, will be built at Widmerpool, Nottinghamshire, led by biomass specialists Forest Fuels, working with Uniper Technologies. The cleaned feedstocks will then be blended […]

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, 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 […]

E.ON reports net loss of €3.03 billion

E.ON has reported a net loss of €3.03 billion (£2.57bn) in the first six months of this year. The German firm  stated it took an impairment charge of €3.08 billion (£2.61bn) for Uniper, its spin-off company, including €2.9 billion (£2.4bn) in write-downs on power stations and gas storage facilities and €900 million (£765m) in provisions. In […]

E.ON asks shareholders to back spin-off firm

E.ON has asked shareholders to vote in favor of its spin off firm. In January, the German energy company announced plans to separate its hydro, natural gas and coal plants as well as global energy trading operations into a separate company named Uniper. They need to be approved by a majority of at least 75% of […]

E.ON splits renewables and fossil fuels operations

E.ON has reorganised its business to focus on renewables, energy networks and customer solutions. Germany’s energy giant has separated its hydro, natural gas and coal plants as well as global energy trading operations in a separate company named Uniper. It will operate independently and aims to ensure security of energy supply, said E.ON. The company made the […]