SSE and Innogy submit joint response to CMA phase 1 decision on UK merger2018/06/06
On 8 May 2018 the Competition and Markets Authority (CMA) referred the
anticipated merger for further investigation - SSE and Innogy expect unconditional clearance of the transaction on the grounds that there will be no negative effect on market power and pricing to consumers. Innogy expects closing by Q4 2018 or Q1 2019. Innogy is currently subject to a takeover offer by local competitor E.ON. Majority owner RWE approved the takeover and will tender its 76.79% stake to E.ON for a minority stake. E.ON and RWE plan to break-up Innogy between them subsequent to Closing.
Enel successful bidder for Brazilian Eletropaulo with 1.76 bn bid2018/05/31
77% higher than Neonergia´s (controlled by Iberdrola) bid on 17 April, 2018 - the bid is still subject to getting >50% in the tender offer that runs till 4 June, 2018. With the acquisition of a further 7 mn customers it will become the no. 1 operator in Brazil with a total of 17 mn customers. The final offer price is 28 BRL ($8.28) p. sh., which is 61.5% higher than its first offer price of 28 BRL on 18th April, 2018. Enel also committed to a subsequent share capital increase of 350 mn.