Luther advises the City of Hilden. Buy-back of shares in the municipal utility of Hilden

As of 1 November 2015, the City of Hilden (North Rhine-Westphalia) will acquire 25 percent of the shares in Stadtwerke Hilden GmbH. Vendor is Stadtwerke Dusseldorf AG. The City had retained Luther Rechtsanwaltsgesellschaft mbH for advice regarding this transaction. The parties have agreed not to disclose the amount of the purchase price.

Since late 2008, Stadtwerke Dusseldorf AG has held a 49.9 percent stake in Stadtwerke Hilden GmbH. The partial privatization of the municipal utility made at the time had been preceded by a tender process, where Luther had also supported the City of Hilden.

With the current transaction, the City of Hilden now used a municipal holding company to buy back half of the shares sold in 2008. As a result, it will hold a 75.1 percent stake in Stadtwerke Hilden GmbH. Stadtwerke Dusseldorf will retain 24.9 percent. The strategic partnership between Stadtwerke Hilden and Stadtwerke Dusseldorf will thus be continued.

For the City of Hilden

Luther, Mergers & Acquisitions: Dr Carsten E. Beisheim (Lead Partner), Dr Felix Stamer (both Dusseldorf)

Luther, Antitrust Law and Energy Law: Dr Holger Stappert (Partner), Franz-Rudolf Groß, LL.M. (Counsel, both Dusseldorf)

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