E.ON (EOAN.DE) plans to split into two companies

Germany’s largest utility, E.ON (EOAN.DE) announced it will spinoff a new company around its conventional power-generation operations, global energy trading, exploration and production units. It plans to spinoff the majority of the new company’s stock to E.ON shareholders in 2016 and sell the remaining stake. The new company (has not yet been named) woule include the company’s troubled units in Russia and Brazil. Source: WSJ