The British Competition and Markets Authority (CMA) has approved RWE's acquisition of a 16.7% minority stake in E.ON without any conditions, as part of a far-reaching transaction announced in early 2018. In March 2018, E.ON and RWE reached an agreement, according to which E.ON will acquire the 76.8 % stake in innogy held by RWE. In turn, RWE will receive a 16.67 % stake in E.ON (created through a capital increase); nearly the entire renewable energy business of E.ON; innogy’s renewable energy business; the minority interests held by the E.ON subsidiary PreussenElektra in the RWE-operated nuclear power plants Gundremmingen (25%) and Emsland (12.5%) in Germany; innogy’s gas storage business; and the 37.9 % stake in the Austrian energy utility KELAG held by innogy. In addition, RWE will pay €1.5bn to E.ON.
RWE owns and operates more than 8.5 GW of power capacity in the United Kingdom, accounting for 14% of the wholesale market in 2017; its renewable assets are operated by its subsidiary innogy. E.ON is active in the United Kingdom through Uniper, which accounts for around 4% of the wholesale market.