Turkey's Sabancı, Germany's E.ON agree to restructure Enerjisa

Sabancı Holding and E.ON have made an agreement to restructure Enerjisa and its subsidiaries, Sabancı said in a statement on March 24. 

Each company has a 50 percent stake in the energy company. 

The deal arranges the group's electricity distribution and retail companies under a parent company, while energy generation, energy wholesale and natural gas wholesale companies are placed under another parent company.

"With this new strategic structuring in Enerjisa, the aim is to create two high potential, stronger companies," read the statement. 

It added that the public offering processes could be managed separately for these two parent companies in the future.