24.10.2017
MEAG, the asset management company of Munich Re and Ergo, has acquired a 49% stake in STEAG Fernwärme (SFW). MEAG was advised by a team of law firm Luther. The full-service law firm contributed extensive expertise in transactions in the energy and infrastructure sector:
MEAG, the asset management company of Munich Re and Ergo, has acquired a 49% stake in STEAG Fernwärme (SFW). MEAG was advised by a team of law firm Luther. The full-service law firm contributed extensive expertise in transactions in the energy and infrastructure sector: Recently, it has assisted Dutch Eneco on its participation in the green energy provider LichtBlick, Norwegian Statkraft on its investment in the energy supplier enQu, and Open Grid Europe on its takeover of jordgasTransport gas network from Statoil.
SFB operates a 600 km network of district heating networks in the cities of Bottrop, Essen and Gelsenkirchen in the Ruhr area, which is interconnected via a supraregional district heating trunk line, the "Fernwärmeschiene-Ruhr". It thus supplies approx. 300,000 residential units and approx. 6,000 commercial customers. District heating is generated in an environmentally friendly and CO2-avoidant way by means of combined heat and power generation (CHP), thus making an important contribution to achieving the climate protection targets.
The transaction is subject to approval by the relevant antitrust authorities.
For MEAG
Luther, M&A/Corporate: Dr. Michael Krömker, MBA (Lead Partner, Dusseldorf); Philipp Dietz, LL.M. (Partner), Fabian Mimberg, LL.M., Johann Brehm, LL.M. (all Cologne)
Luther, antitrust and regulatory law: Dr. Holger Stappert (Partner), Franz-Rudolf Groß, LL.M. (Counsel), Dr. Guido Jansen (Partner), Almuth Berger LL.M., Cosima Hippel (all Dusseldorf)
Luther, Environment/Planning/Regulation: Dr. Stefan Altenschmidt, LL.M. (Partner, Dusseldorf)
Luther, employment law: Dr. Eva Rütz, LL.M. (Partner, Dusseldorf)
Luther, Real Estate Law: Dr. Philipp Pröbsting (Partner, Dusseldorf)
Luther, Tax Law: Nicole Fröhlich (Partner), Ramona Hubracht, LL.M. (both Frankfurt am Main)
MEAG (inhouse): Sven Konrad
Press releases on the above-mentioned transactions in the energy sector:
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