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E.ON to transform into European company

04 May 2012 14:04:58 | esgm

Shareholders of Germany's E.ON have voted to transform the energy utility into a European company under EU law, and will be known as E.ON Societas Europaea (SE), rather than E.ON AG, the company has announced.

Shareholders representing 99.67% of the capital approved the change at E.ON's annual shareholder meeting on Thursday. The transformation from a stock corporation under German law into an SE is expected to be fully effective by the end of the year, E.ON said.

The utility said the change would make the management of an international company such as E.ON more efficient. About half of the company's workforce, shareholders and customers reside in EU countries other than Germany, it added.

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