E.ON, an international energy company, completed the takeover of RWE’s 76.8% stake in Innogy, a German electric utilities company. Via an asset exchange, RWE received substantially all of E.ON’s renewables activities, Innogy's renewables business, a minority stake of 16.67% in the enlarged E.ON and certain other assets. E.ON received a cash payment of €1.5bn from RWE. Additionally, E.ON made a voluntary public takeover offer to Innogy's minority shareholders. The total offer value of €40.00 per share consisted of an offer price of €36.76 per share, plus the payment of assumed dividends from Innogy of a total of €3.24 per share for the fiscal years 2017 and 2018. E.ON secured an 86.2% share in Innogy after completing the voluntary public takeover offer to the company’s minority shareholders. Following the closing of the additional acceptance period on 25 July, Innogy's shareholders decided to sell 9.4% more to E.ON, adding to RWE’s 76.8% stake. "This is the day we have been working towards for two years. The new RWE has been completed. It is a new, bigger and more diverse company, with a clear goal. By 2040, we will be carbon neutral. This will take us far beyond what other companies are aiming for. Our team has an outstanding position – with a strong renewables business, which is channelling all its energy towards growing internationally and can now hit the ground running. With a fleet of flexible and conventional power stations, which build a reliable bridge to the new energy era. And with energy trading operations with the expertise to seize opportunities on global energy markets," Rolf Martin Schmitz, RWE CEO.