After the squeeze out of remaining Innogy shareholders, E.ON will transfer Innogy’s renewables business, gas storage and a stake in Austria’s Kelag to rival RWE by the end of this month.

The transaction will turn RWE in one of Europe’s biggest renewable energy producers and the world’s number 2 offshore wind operator.

RWE and E.ON in March 2018 had announced the now almost complete three-way transaction under which RWE will bundle the renewable generation assets of its former unit Innogy and those of E.ON,