E.ON’s Shareholders Greenlight Uniper Spinoff

E.ON’s shareholders have approved the spinoff of a 53.35-percent majority stake in Uniper, with the decision supported by 99.68 percent of the share capital represented at the E.ON Annual Shareholders Meeting.

The vote paves the way for the full implementation of the company’s new strategy, E.ON said, under which the new E.ON focuses on the new energy world and has three core businesses: energy networks, customer solutions, and renewables.

Uniper focuses on the conventional energy business with an emphasis on power generation and energy trading.

The spinoff of Uniper approved by E.ON SE shareholders will take effect when it is entered into the commercial register, likely in the second half of 2016.

E.ON shareholders will then automatically receive Uniper shares at the one-to-ten ratio specified in the spinoff agreement. This means that they will receive one Uniper share for every ten E.ON shares they hold.