1923 CE
Viag founded
Viag (Vereinigte Industrieunternehmen AG) is created as a state-owned industrial holding company in Bavaria, focusing on energy, chemicals, and aluminum. #energy #history
Chronological Storyline (37 Milestones)
1923 CE
Veba founded
Veba (Vereinigte Elektrizitäts- und Bergwerks AG) is established as a holding company for state-owned electricity and mining assets in Prussia. #energy #history
1969 CE
Veba becomes publicly traded
Veba is privatized and listed on the Frankfurt Stock Exchange, becoming one of Germany's largest industrial conglomerates. #corporate #history
1986 CE
Viag restructures
Viag restructures its operations, focusing on energy and chemicals, and divests non-core businesses. #corporate #restructuring
Jan 1, 2000 CE
Merger of Veba and Viag creates E.ON
Veba and Viag merge to form E.ON AG, creating one of the world's largest energy companies with operations in electricity, gas, and oil. #merger #energy
By Wiki05 - Own work, CC0, https://commons.wikimedia.org/w/index.php?curid=14922968
Oct 1, 2001 CE
E.ON acquires Powergen
E.ON acquires UK-based Powergen for £4.4 billion, expanding into the British electricity and gas market. #acquisition #expansion
Feb 1, 2002 CE
E.ON acquires Ruhrgas
E.ON acquires Ruhrgas, Germany's largest natural gas company, for €10.9 billion, creating a dominant gas business. #acquisition #gas
Jul 1, 2002 CE
E.ON divests Degussa
E.ON sells its chemical subsidiary Degussa to focus on the energy business. #divestiture #restructuring
By Wiki05 - Own work, Public domain, https://commons.wikimedia.org/w/index.php?curid=5827368
2003 CE
E.ON launches renewable energy subsidiary
E.ON establishes E.ON Renewable Energy to develop wind, solar, and biomass projects. #renewables #energy
2004 CE
E.ON enters US market with acquisition of Aquila assets
E.ON acquires energy assets from Aquila for $2.5 billion, expanding into the US Midwest. #acquisition #US )
2005 CE
E.ON acquires Scottish Power's distribution arm
E.ON buys Scottish Power's distribution network for £2.2 billion, strengthening its UK presence. #acquisition #UK
By Thomas Nugent - From geograph.org.uk, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=75916824
Jan 1, 2006 CE
E.ON bids for Endesa
E.ON launches a €27.2 billion hostile bid for Spanish utility Endesa, later blocked by Spanish regulators. #M&A #energy
By Luis García (Zaqarbal) - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=15428107
2007 CE
E.ON sells US assets to PowerGen
E.ON sells its US Midwest generation assets to PowerGen (formerly Aquila) for $1.5 billion. #divestiture #US
Jun 1, 2008 CE
E.ON acquires shares in Russian energy
E.ON increases stake in Russian gas producer Gazprom and acquires a stake in OAO E.ON Russia (formerly OGK-4). #acquisition #Russia
2009 CE
E.ON divests Ruhrgas stake
E.ON sells a 12.3% stake in Ruhrgas to Gazprom for €2.5 billion. #divestiture #gas
Dec 1, 2010 CE
E.ON launches new strategy: 'E.ON 2.0'
E.ON announces a strategic shift towards renewable energy and decentralized energy solutions, phasing out nuclear power. #strategy #renewables
2011 CE
E.ON acquires Electrabel assets
E.ON acquires Electrabel's German assets for €1.5 billion, strengthening its position in Germany. #acquisition #Germany
By CorporateCommunicatie - Own work, Public domain, https://commons.wikimedia.org/w/index.php?curid=9023999
2012 CE
E.ON sells UK electricity generation business
E.ON sells a majority stake in its UK electricity generation business to a consortium for £1.4 billion. #divestiture #UK
2013 CE
E.ON sells Hungarian gas storage
E.ON sells its Hungarian gas storage business to the Hungarian government for €1 billion. #divestiture #Hungary
Nov 1, 2014 CE
E.ON announces split into two companies
E.ON announces plans to spin off its fossil fuel and trading operations into a new company, Uniper, focusing on renewables and grids. #restructuring #spin-off
Mar 1, 2015 CE
E.ON sells stake in OMV
E.ON sells its remaining stake in Austrian oil and gas company OMV for €1.5 billion. #divestiture #oil
Jan 1, 2016 CE
Uniper spin-off completed
E.ON completes the spin-off of Uniper, its fossil fuel generation and trading business, to shareholders. The new company is listed on the Frankfurt Stock Exchange. #spin-off #energy
By Uniper GmbH - File:4-format2403.jpg, Public domain, https://commons.wikimedia.org/w/index.php?curid=50263346
Dec 1, 2016 CE
E.ON sells remaining stake in Uniper
E.ON sells its remaining 46.65% stake in Uniper to Fortum for €3.8 billion. #divestiture #unloading
2017 CE
E.ON acquires energy consultancy Kiwi Power
E.ON acquires UK-based energy demand response provider Kiwi Power to expand its smart grid capabilities. #acquisition #smartgrid
Mar 1, 2018 CE
E.ON completes takeover of Innogy
E.ON acquires the majority of RWE's subsidiary Innogy, including its renewable energy and retail businesses, in a complex asset swap with RWE. #acquisition #M&A
Jul 1, 2019 CE
E.ON sells its Spanish renewables business to RWE
As part of the Innogy deal, E.ON sells its Spanish renewable energy operations to RWE. #divestiture #renewables
Sep 1, 2019 CE
E.ON acquires GridX
E.ON acquires German energy data analytics startup GridX to enhance its digital offerings. #acquisition #digital
Mar 1, 2020 CE
E.ON sells Russian business
E.ON sells its Russian energy operations (E.ON Russia) to VTB Capital for €1.1 billion. #divestiture #Russia
Jan 1, 2021 CE
E.ON completes acquisition of innogy's renewable assets
E.ON finalizes the acquisition of innogy's renewable energy assets, including wind and solar farms. #acquisition #renewables
Jun 1, 2021 CE
E.ON announces climate neutrality target by 2040
E.ON sets a target to achieve net-zero greenhouse gas emissions by 2040, aligning with the Paris Agreement. #climate #sustainability
Feb 1, 2022 CE
E.ON sells its Italian business to Nem
E.ON sells its Italian energy retail and generation business to Nem for €1.1 billion. #divestiture #Italy
Nov 1, 2022 CE
E.ON acquires German solar company Enerix
E.ON acquires Enerix, a German solar panel installation company, to expand its solar business. #acquisition #solar
May 1, 2023 CE
E.ON sells its stake in PreussenElektra
E.ON sells its remaining stake in nuclear power company PreussenElektra to Swedish utility Vattenfall. #divestiture #nuclear
Sep 1, 2023 CE
E.ON launches major grid investment plan
E.ON announces a €27 billion investment plan to modernize and expand its electricity distribution grids in Germany and Europe. #investment #grid
Mar 1, 2024 CE
E.ON acquires majority stake in Westnetz
E.ON acquires a majority stake in German grid operator Westnetz from RWE for €2.5 billion. #acquisition #grid
Oct 1, 2024 CE
E.ON starts construction of large offshore wind farm
E.ON begins construction of the 1 GW 'Kaskasi' offshore wind farm in the North Sea. #renewables #wind
2025 CE
E.ON reports record investment in digitalization
E.ON invests €1.5 billion in digitalization, including smart meters and grid automation. #digitalization #smartgrid