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E.ON and RWE: To Swap or Not to Swap?

Florian Wiesner; Jonathan Chen; Christopher Williams;

商品編號:9B20M189
出版日期:2020/11/11
再版日期:2020/11/11
商品來源:
商品主題:General Management/Strategy
商品類型:Case (Pub Mat)
涵蓋議題:asset swap;merger;utilities;energy policy
難易度:4 - Undergraduate/MBA
內容長度:17 頁
地域:Germany
產業:Utilities;
事件年度:2018

In 2018, the board of directors of the German utility company E.ON SE was presented with a deal for an asset swap with a major domestic competitor, RWE AG. The deal was meant to help the competitors cope with uncertainties and challenges caused by the ongoing transformation of the utility industry in Europe. In the proposed deal, a recently created RWE-spinoff, innogy SE, would be disassembled with the assets going to E.ON. Because RWE still held a 76.8 per cent stake in innogy, the transfer meant that E.ON could gain full control over innogy's assets. In exchange, RWE would gain a minority investment in E.ON and some other assets. A deal, if approved, would be a surprise to the stock market. Should E.ON's board approve it?

教學手冊:8B20M189;
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