E.ON (OTCPK:EONGY -0.6%will sell its end-customer electricity and gas business in the Czech Republic to Hungary-based MVM.

The deal is still subject to European Commission approval but is expected to close by the end of 2020.

The Czech business belonged to Innogy, which E.ON bought in 2019. As part of the antitrust approvals process for the acquisition, E.ON had to dispose of various assets, including the Czech business.

Innogy currently caters to 1.2M gas customers and 0.4M electricity customers in the Czech Republic.

No financial details were disclosed.


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