EU court rejects appeals in RWE, E.ON asset swap deal

E.ON SE

26/06/2025 10:21

June 26 (Reuters) - The European Union's Court of Justice on Thursday rejected appeals brought by German municipalities challenging an asset swap deal between RWE RWEG.DE and E.ON EONGn.DE.

The court dismissed nine appeals brought by the municipalities against the General Court's May 2023 decision that confirmed the European Commission's approval of RWE's side of the swap.

"The Court of Justice confirms, in particular, that an asset swap between independent undertakings does not constitute a 'single concentration'," it said in a statement.

German utility giants RWE and E.ON had agreed a deal in 2018 that included a share issue and saw E.ON acquire Innogy's regulated energy networks and customer operations, while RWE took on the renewables businesses of both E.ON and Innogy.

Appeals against a second part of the swap approved by the Commission, concerning E.ON's acquisition, were still pending, the court added.

 (Reporting by Isabel Demetz, Editing by Miranda Murray)

 ((Isabel.Demetz@thomsonreuters.com;))