Archive for the 'M&A' Category

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New Investors for EnBW?

The Green/Social Democrat government of the state of Baden-Württemberg is looking for new investors for EnBW AG, the magazine Manager Magazin and other publications report.

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EnBW Acquisition by Baden-Württemberg Violated State Constitution

The acquisition of a 45.01% stake in EnBW AG by a subsidiary of the state of Baden-Württemberg, NECKARPRI GmbH, in December 2010 violated state parliament’s constitutional budget rights, the State Constitutional Court of Baden-Württemberg ruled. The ruling is considered not to affect the deal as such.

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RWE AG Sells 74.9% Stake in Transmission System Operator Amprion

RWE AG has reached agreement on the sale of a 74.9 % stake in its transmission systems operator Amprion GmbH to a consortium of financial investors, RWE announced in a press release yesterday.

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Sale of EnBW Transmission Grid?

Due to the high costs of the German energy transition, EnBW AG has changed its mind regarding its transmission network and is now willing to sell a minority share to investors, e.g. an infrastructure fund, Financial Times Deutschland (FTD) reports.

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Baden-Württemberg’s New Environment Minister Suggests Sale of EnBW’s Transmission Network

In an interview with the newspaper Frankfurter Rundschau, the  new Green Environment Minister Franz Untersteller of Baden-Württemberg suggested that EnBW considers a sale of its transmission network to fund investments in renewable energies and new efficient gas-fired power plants.

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Closing of Rhein-Ruhr Consortium’s Evonik Steag Acquisition

Evonik Industries AG and the Rhein-Ruhr consortium of municipal utilities yesterday announced the closing of the acquisition of Steag by the consortium. Last December, the consortium agreed to acquire a 51% stake in Evonik Steag GmbH, together with an option to acquire the remaining 49%. The German Cartel Office recently cleared the deal.

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German Cartel Office Clears Evonik Steag Acquisition

The German Cartel Office has cleared the sale of a 51% stake in the Essen-based Evonik Steag GmbH to a holding company of seven municipal utilities located in North Rhine-Westphalia (Kommunale Beteiligungsgesellschaft GmbH). The Office also stopped antitrust proceedings against Evonik Industries AG and RWE AG relating to electricity contract clauses suspected to restrict competition.

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Lawsuit Filed Against State’s Acquisition of EdF Stake in EnBW

The opposition Social Democrats (SPD) and the Greens filed a constitutional lawsuit against the acquisition of EdF’s 45.01% stake in EnBW AG by the the state of Baden-Württemberg, as announced in late January.

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Legal Action Against Baden-Württemberg’s Acquisition of EdF Stake in EnBW?

The opposition Social Democrats (SPD) and the Greens announced to file a lawsuit with the State Constitutional Court of Baden-Württemberg in February against the acquisition of EdF’s 45.01% stake in EnBW AG by a subsidiary of the state of Baden-Württemberg, NECKARPRI GmbH.

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Amendment of NRW Municipal Code Facilitates Energy Activities of Municipalities

The State Parliament of North Rhine-Westphalia (NRW) on 16 December adopted an amendment of the Municipal Code (Gemeindeordnung) to facilitate commercial activities of local utilities, in particular in the energy sector. The bill was approved with the votes of the ruling Social Democrat/Green coalition and was supported by the Left, against the votes of the CDU and the FDP.

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