Advanced Chart
  • Wed, Jan. 13, 7:52 AM
    • E.ON (OTCQX:EONGY) reportedly is in advanced talks to sell its U.K. North Sea assets to Premier Oil (OTC:PMOIF), Dow Jones reports.
    • Shares of Premier Oil are suspended on the London Stock Exchange ahead of an announcement of a potential asset acquisition.
    • The German utility has launched a restructuring strategy to spin out conventional operations to a new company, and plans to focus on renewable energy while retaining its German nuclear operations within the parent company.
    | Wed, Jan. 13, 7:52 AM | 5 Comments
  • Nov. 5, 2015, 7:58 AM
    • Enbridge (NYSE:ENB) agrees to acquire a 24.9% stake in E.ON's (OTCQX:EONGY) €1.9B ($2.1B) offshore Rampion wind project Rampion in the U.K. for C$750M (US$570M), and will manage construction of the project.
    • E.ON will remain the controlling shareholder of the 400 MW project with a 50.1% stake, with the remaining stake being held by the UK Green Investment Bank.
    • ENB and E.ON already are partners in the Magic Valley wind farm in Texas and the Wildcat wind farm in Indiana.
    | Nov. 5, 2015, 7:58 AM
  • Oct. 14, 2015, 7:43 AM
    • German energy company E.ON (OTCQX:EONGY) agrees to sell its entire North Sea E&P division to a company controlled by Russian billionaire Mikhail Fridman in a deal valued at $1.6B.
    • E.ON holds ~30 licenses in Norway but most are exploration assets and just a few are in production, with none actually operated by E.ON; its major producing fields include Njord, operated by Statoil, and Skarv, operated by BP.
    • E.ON says its U.K. E&P business remains under review, adding it would "provide an update in due course."
    | Oct. 14, 2015, 7:43 AM
  • Oct. 6, 2015, 5:22 PM
    • Russian billionaire Mikhail Fridman's LetterOne fund is in advanced talks to acquire German utility E.ON's (OTCQX:EONGY) Norwegian North Sea assets for more than $1B, Financial Times reports.
    • The potential deal would signal a renewed push by the Russian oligarch to expand his P-E fund's oil and gas portfolio after being forced to sell his British North Sea assets because of U.S. and European sanctions.
    • E.ON owns a 28% stake in the BP-operated Skarv field, which is expected to reach peak output of 165K boe/day, as well as 30% and 17.5% stakes in two Statoil-operated (NYSE:STO) fields.
    • LetterOne, whose energy fund is run by former BP CEO John Browne, recently asked the U.K. to delay an October deadline to sell its North Sea assets after a first round of offers came in well short of expectations.
    | Oct. 6, 2015, 5:22 PM
  • May 16, 2012, 3:56 PM
    E.ON (EONGY.PK) confirms the sale of its natural gas transmission grid to a consortium led by Macquarie (MQBKY.PK) for €3.2B ($4.07B). E.ON's sale of Open Grid Europe will help the German utility reduce debt amid a weak domestic electricity market; the Australian bank will gain a network that accounts for ~70% of Germany's total annual shipping volume.
    | May 16, 2012, 3:56 PM
  • Dec. 23, 2011, 1:59 AM
    China Three Gorges is buying Portugal's 21% stake in utility EDP (EDPFY.PK) for €2.7B ($3.5B), beating out E.On (EONGY.PK) and Eletrobras (EBR). The deal also includes Chinese investment in the wider economy, and is a crucial indicator of Portugal's ability to sell state assets in the face of its debt crisis.
    | Dec. 23, 2011, 1:59 AM