Dec. 1, 2014, 4:16 AM
- Germany's largest utility E.ON (OTCQX:EONGY) has announced plans to split in two and spin off its fossil fuel power plants into a separate company to focus on renewable energy.
- The company also said it would post a substantial net loss for 2014 due to additional charges of about €4.5B ($5.6B) in Q4, citing its assets in southern Europe as well as loss-making power plants.
- Despite the write down, shares are up 3.3% in Frankfurt.
EONGY vs. ETF Alternatives
E.ON SE with its headquarter in Germany is a global provider of specialized energy solutions. Five global units are responsible for Generation, Renewables, New Build & Technology, Optimization & Trading, and Exploration & Production. Eleven regional units manage our operating business in Europe.... More
Other News & PR