INNOGY SE (FRA:DE000A2A) innogy SE: innogy and SSE to combine retail activities in Great Britain

Transparency directive : regulatory news

08/11/2017 08:14




DGAP-Ad-hoc: innogy SE / Key word(s): Mergers & Acquisitions/Joint Venture


innogy SE: innogy and SSE to combine retail activities in Great Britain


08-Nov-2017 / 08:14 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




innogy SE ("innogy") and SSE plc ("SSE") have entered into a binding agreement on combining the retail activities of innogy's subsidiary Npower and SSE's B2C (retail customers) and Energy+ activities in Great Britain. The combined business is intended to be listed and SSE plans to demerge its shares to its shareholders upon completion of the transaction. innogy will hold 34.4% of the shares in the combined business and the shareholders of SSE will hold the remaining 65.6% of the shares. The transaction is subject to the approval by the supervisory board of innogy and, in relation to the demerger, the shareholder meeting of SSE as well as the consent of the competent competition and regulatory authorities. Should SSE not obtain the approval of its shareholders by 31 July 2018, a break fee of GBP 60 million could be payable by SSE to innogy.



Responsible person: Dr. Claudia Mayfeld, General Counsel of innogy SE











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Language: English
Company: innogy SE

Opernplatz 1

45128 Essen

Germany
Phone: +49 (0)201-12-00
E-mail: invest@innogy.com
Internet: www.innogy.com
ISIN: DE000A2AADD2
WKN: A2AADD
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg





 
End of Announcement DGAP News Service




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