E.ON has accepted Fortum’s takeover offer of €3.76bn ($4.5bn) for the 46.65% in its spun-off former fossil, hydro and nuclear unit Uniper that will turn the German utility into a pure-play renewables, grids and customer solutions company.

Following the settlement of the offer, E.ON will sell its stake in Uniper at €22 a share.

That is higher than Uniper’s current value of €25.78