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EON reportedly planning to sell stake in spinoff company by 2018

Mar. 19, 2015 3:58 PM ETE.ON SE (EONGY) StockEONGYBy: Carl Surran, SA News Editor
  • German utility EON (OTCPK:EONGY) will divest its stake in its fossil fuel business within two years of spinning it off, Bloomberg reports.
  • EON will sell 51% of its stake in the new publicly listed company in H2 2016 and then sale the remaining stake by 2018, according to the report.
  • The new company will focus on conventional and hydropower generation, global energy trading, oil and gas exploration and production, and will include EON’s businesses in Russia and Brazil, leaving EON focused on renewables, distribution and customer solutions.

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