FRANKFURT (Reuters) - German utility RWE (RWEG.DE) on Sunday said it has reached an agreement in principle to sell a 76.8 percent stake in Innogy (IGY.DE) to German rival E.On (EONGn.DE).
FILE PHOTO: Innogy logo in Essen, Germany, March 14, 2017. Reuters/Thilo Schmuelgen
RWE’s Innogy stake will be valued at 40.00 euros ($49.22) per share, including the expected dividends of 3.24 per share in total for the fiscal years 2017 and 2018, RWE said.
Reporting by Edward Taylor; editing by Diane Craft