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E.ON Sells Innogy's Electricity And Gas Retail Business In Czech To MVM

German Energy Company E.ON (EONGY.PK) agreed to sell innogy SE's entire electricity and gas retail business in the Czech Republic, innogy Ceska republika, to MVM Group for an undisclosed amount.

The transaction is expected to close before year-end. innogy is currently supplying 1.2 million gas customers and 0.4 million electricity customers in the Czech Republic.

The transaction marks the final step in the fulfilment of the remedies offered by E.ON in the context of the antitrust approval of E.ON's takeover of innogy.

E.ON has previously reached agreements for the sale of a significant part of E.ON's German heating electricity business, part of E.ON's electricity retail business in Hungary and regarding the discontinuation of the construction and operation of a number of electric-vehicle charging stations on motorways in Germany.

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