Stinnes up for grabs

Stinnes major shareholder, German energy group E.ON, has revealed that, it is looking to dispose of its 65% interest in the company. The remaniing 35% is floated on the Frankfurt stock exchange.
One analyst said: “EON has indicated that it is looking for a buyer for its stake in Stinnes. If they dont find one to take their stock outright, they may reduce their holding through
share sales on the exchange.”
Stinnes last week reported record results for the third year in a row despite the sluggish economy, increasing pre-tax earnings on continuing business by 26% thanks to the strong performance of its chemical and roadtransport divisions.
CEO Wuif Bernotat said the group was keen to acquire logistics businesses, especially in the US.