E.On bags €1.34bn for debt reduction after losses in 2016

Aidan Gregory

March 17, 2017 02:00 pm

E.ON_PA_230x150 — E.ON CEO Johannes Teyssen seen during the financial statement press conference of the electric utility service provider held at its headquarters in Essen, Germany, 15 March 2017. The company has posted a loss of 16 billion euros for the past fiscal year, the largest of its kind in the company's history. Photo: Ina Fassbender/dpa | Ina Fassbender/DPA/PA Images

E.On, the German electricity and gas company, successfully placed €1.34bn of new equity on Thursday night after announcing earlier in the week that it had made a €16bn loss in 2016 due to a writedown of the value of Uniper, the fossil fuels business it span off last year, and costs related to the decommissioning of its nuclear assets.

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Germany Equity Bank of America ABBs-Block Trades Europe EMEA

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Aidan Gregory