Trio of financial specialists at work in Germany's '€43bn energy shake-up'

Finsbury-Hering Schuppener, CNC and Brunswick are the comms agencies active in a major German energy market deal, which is the largest active M&A situation in Europe.

Innogy, which is due to be sold, specialises in renewables
Innogy, which is due to be sold, specialises in renewables

Energy giants E.ON and RWE have agreed a deal under which RWE will transfer its 76.8 per cent stake in renewables firm Innogy to E.ON.

It is proposed that RWE would later take a minority stake in the combined E.ON-Innogy business, a move that in the words of the Financial Times would "redraw the country's energy market", making RWE the lead company for generation, while E.ON concentrates on distribution.

The FT wrote last week: "Political leaders in Berlin welcomed the deal amid hopes that the carve-up of Innogy would leave Germany with two stronger companies better able to compete with their European rivals."

If successful, the deal will be fully complete by the end of 2019.

Active agencies

Innogy is being supported by Finsbury-Hering Schuppener, the Anglo-German WPP agency alliance. The agencies had worked on the IPO, which formally separated Innogy rom RWE in April 2016.

Finsbury has also worked with Innogy on the proposed merger of its UK subsidiary Npower with SSE.

CNC is working for E.ON. The Munich-headquartered Publicis agency has worked for E.ON since 2015, helping spin off its Uniper division at the start of 2016. CNC merger with Capital MSL in 2015.

Brunswick, which has three offices in Germany, has had a retainer with RWE in the country for at least two years. It is not clear whether the agency is actively involved in the Innogy situation, with a portion of the work being done in-house.

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