EON SE (EOAN.DE) , Germany’s biggest utility, will divest its stake in its fossil-fuel business within two years of spinning it off, according to a person familiar with the matter.
EON will sell 51 percent of its stake in the new publicly listed company, including an offer of stocks to its existing shareholders, in the second half of 2016 and then divest the remaining stake by 2018, the person said, asking not to be named because the information isn’t public. “This strategy would make sense, if EON expects a positive development of the spinoff shares,” Sven Diermeier, an analyst at Independent Research GmbH, said by phone from Frankfurt. Source: Bloomberg
