German 公共事業（料金）／有用性 E.ON to 分裂（する） to 焦点（を合わせる） on renewables, grids
By Christoph Steitz
FRANKFURT, Dec 1 (Reuters) - Germany's 最高の，を越す 公共事業（料金）／有用性 E.ON said it would 分裂（する） in two, spinning off 力／強力にする 工場／植物s to 焦点（を合わせる） on renewable energy and 力／強力にする grids, in a 劇の 返答 to 産業 changes that could 誘発する／引き起こす 類似の moves at European peers.
Europe's 力／強力にする 部門 has been 攻撃する，衝突する by weak energy 需要・要求する in a 不振の economy, low 卸売 力／強力にする prices and a 殺到する in 需要・要求する for cleaner renewable energy which is 取って代わるing gas and coal-解雇する／砲火／射撃d 力／強力にする 工場／植物s.
The move is the boldest by a German company since （ドイツなどの）首相／（大学の）学長 Angela Merkel's 'Energiewende' in 2011, a 政策 that encouraged cleaner energy and a move away from 化石 and 核の 燃料s, 混乱に陥れる／中断させるing 商売／仕事 models for 公共事業（料金）／有用性s.
E.ON, whose market value 急落（する），激減（する）d by 近づく three ４半期/4分の1s since 2008, said it would 焦点（を合わせる） on renewables, 配当 網状組織s and tailor-made energy efficiency services to embrace changes in energy markets, 科学（工学）技術 and 顧客 需要・要求する.
"We have seen the 出現 of a new energy world," 大統領 Johannes Teyssen said on Monday.
"E.ON's 存在するing 幅の広い 商売／仕事 model can no longer 適切に 演説（する）／住所 these new challenges."
E.ON said 存在するing 準備／条項s for the 取り去る／解体するing and 処分 of 核の and 従来の 資産s would be fully covered in the new company's balance sheet, 追加するing that 部隊 would have a 肯定的な 逮捕する 財政上の position and an 投資 gra de 率ing.
All 優れた 社債s 同様に as all 負債 are to remain with E.ON, which said it was working hard to 避ける its credit 率ing from getting downgraded by more than one notch as a result.
基準 & Poor's is putting E.ON's long-称する，呼ぶ／期間／用語 credit 率ing at "A-". Moody's sees it at "A3".
E.ON's 株 jumped 6.3 パーセント then settled 支援する a little to be up 4.4 パーセント by 1542 GMT, the biggest gainer の中で European 公共事業（料金）／有用性s.
EXTREMELY BRAVE
"From an 投資家 視野, the spin-off would be 望ましい as it would give E.ON two （疑いを）晴らす-削減（する） 商売／仕事 models that are easier to 査定する／（税金などを）課す than the 複合的な／複合企業体," said Thomas Deser, 上級の 基金 経営者／支配人 at Union 投資, E.ON's seventh-largest 株主.
E.ON said it would 準備する next year for the 名簿（に載せる）／表（にあげる）ing of the new company created by its 崩壊／分裂, with the spin-off taking place in the second half of 2016.
JP Morgan is 事実上の／代理 as the 単独の 助言者 in the group's spin-off, a source with knowledge of the 事柄 told Reuters.
E.ON said about 40,000 of its 従業員s would remain with the parent group, while the remaining 20,000 would join the new company.
"We see this as an 極端に 勇敢に立ち向かう but 進歩／革新的な move by E.ON," RBC 資本／首都 Markets 分析家 John Musk wrote in a 公式文書，認める to （弁護士の）依頼人s, keeping an "outperform" 率ing on the 在庫／株.
"The question now becomes if other 統合するd 公共事業（料金）／有用性s will follow 控訴."
E.ON's new 焦点（を合わせる） on its 規制するd grids and its renewables 商売／仕事 - which is quasi-規制するd, as it depends 大部分は on 明言する／公表する 補助金s - has the potent ial to 上げる its valuation.
In the Stoxx European 公共事業（料金）／有用性s 索引, 規制するd grid 操作者s like Spain's Red Electrica, Britain's 国家の Grid, and Italy's 力／強力にする grid Terna and gas grid 操作者 Snam are の中で the most 高度に valued 在庫／株s, with price/調書をとる／予約する 割合s 範囲ing between 4.5 and 2.4.
公共事業（料金）／有用性s with large thermal 力／強力にする 世代 資産s such as E.ON, フラン's GDF Suez, Italy's Enel and Spain's Iberdrola are at the 底（に届く） of the valuation 最高位の, with price/調書をとる／予約するs around or below 1.
In a 熟考する／考慮する last month, Credit Suisse 分析家s said GDF Suez - whose 商売／仕事 is 類似の to E.ON - 苦しむd a "複合的な／複合企業体 割引" of 5 to 40 パーセント and 示唆するd GDF could 再編する and 名簿（に載せる）／表（にあげる） its French 網状組織s 分かれて.
E.ON's main German peer RWE on Monday said it had no 意向 of に引き続いて E.ON's example.
SPIN OFF, WRITE DOWN
E.ON said it would 移転 a 大多数 of the new company's 資本／首都 在庫／株 to its 株主s, 避けるing the sale of new 株 on the open market as is the 事例／患者 during an 初期の public 申し込む／申し出ing (IPO).
Instead, 投資家s in E.ON will receive 株 in the new company in 新規加入 to 持つ／拘留するing 株 in the parent company, much in the same way that Bayer 株主s received 株 in speciality 化学製品s 部隊 Lanxess.
E.ON, which has 31 billion euros ($38.7 billion) in 逮捕する 負債, said it would 配置する／処分する／したい気持ちにさせる of its 少数，小数派 火刑／賭ける in the new company over the medium 称する，呼ぶ／期間／用語 to 支える its 財政／金融s.
Spinning off 力／強力にする 世代 will rid E.ON of a 部門 that has been hard 攻撃する，衝突する by Germany's 決定／判定勝ち（する） to encourage renewables such as 勝利，勝つd and solar 力／強力にする with 関税s that discou 激怒（する） the use of gas, coal and 核の 力／強力にする 工場／植物s.
E.ON also said it would 地位，任命する a 相当な 逮捕する loss for 2014 予定 to 付加 告発（する），告訴（する）／料金s of about 4.5 billion euros in the fourth ４半期/4分の1, 特記する／引用するing its 資産s in southern Europe 同様に as loss-making 力／強力にする 工場／植物s.
The 監督上の board had 認可するd a 提案 to 支払う／賃金 a （株主への）配当 of 0.50 euro per 株 for 2014 and 2015, 負かす／撃墜する from 0.60 euro paid for 2013, E.ON said.
It also said it had agreed to sell its 商売／仕事s in Spain and Portugal to Australian energy 組織／基盤／下部構造 投資家 Macquarie for 2.5 billion euros, 追加するing that it was considering selling its 商売／仕事 in Italy and would 行為／行う a 戦略の review of its North Sea 商売／仕事.
($1 = 0.8030 euro) (付加 報告（する）／憶測ing by Geert de Clercq in Paris, Emma Thomasson in Berlin and Daniela Pegna and Vera Eckert in Frankfurt; Editing by Anna Willard and Sophie Walker)
