Ad-hoc Notice: E.ON and innogy agree on joint preparation for integration and other support measures

E.ON SE today concluded an agreement with innogy SE to work together to integrate innogy into the E.ON Group. This agreement is concluded against the background that in March E.ON agreed to acquire a 76.8-percent stake in innogy SE from RWE AG and made a voluntary public takeover offer, which runs until July 25, to acquire additional innogy stock.

To the degree legally permissible, today's agreement calls for innogy to help E.ON implement the transaction swiftly by supporting it in matters such as obtaining regulatory approvals and taking the steps necessary to carve out innogy businesses. In addition, the two parties intend to work together on issues relating to change of control. Furthermore it was agreed to collaborate early in a joint project to prepare to integrate innogy business units into the E.ON Group.

Finally, E.ON and innogy agreed on a number of principles and on a fair and transparent selection process for filling leadership positions. These supplement existing and planned collective-bargaining mechanisms to provide social safeguards for employees.

Due to necessary regulatory approvals, E.ON's acquisition of innogy is not expected to close before mid-2019.