E.ON Russia reduced its stake in the share capital of its subsidiary – E.ON Connecting Energies LLC – from 100% to 50%. E.ON Connecting Energies GmbH (ECE GmbH), a subsidiary of E.ON SE, implementing projects in the area of decentralized generation in Europe, purchased a 50% stake in E.ON Connecting Energies LLC. The purchase was completed through a contribution to the share capital of E.ON Connecting Energies LLC by ECE GmbH.
The decision on the reduction of the stake in E.ON Connecting Energies LLC is justified by E.ON Russia intention to continue cooperation with E.ON SE in decentralized generation development on the territory of the Russian Federation after the split of the Group scheduled for 2016. Following the split, E.ON Russia shares will be transferred to a new company – Uniper, while the whole decentralized generation business in Europe (excluding Russia) will pass over to E.ON.
Cooperation with an international company with a vast experience of implementing projects in the area of distributed generation in Europe will help the Russian company substantially reduce the risks of new area development.