E.ON AG Secures Majority Shares in Ruhrgas
March 11, 2003
E.ON AG in Europe became the majority shareholder of Ruhrgas AG. E.ON, one of Europe's largest electricity service providers, has EUR $80 billion in sales and more than 150,000 global employees. As a result of the acquisition, Ruhrgas AG will gain financial latitude for international growth, both upstream and downstream, and can also tap synergy potential from the electrical operations of the E.ON Group. In addition, the Ruhrgas shares owned by Shell, ExxonMobil and others will shortly be acquired by E.ON. The Ruhrgas Industries Holding will continue to operate in its present structure.