Tag Archive for 'Evonik'

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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Evonik to Sell 51% Stake in Power Plant Unit Steag to Group of Local Municipalities

Essen-based  Evonik Industries AG agreed to sell an initial 51% stake in its power plant unit Evonik Steag GmbH (Steag), Germany’s fifth largest electricity producer to a group of local municipalities, many newspapers including Rheinische Post and Handelsblatt reported.

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Evonik Project for World’s Largest Lithium Ceramic Battery

In an effort to make fluctuating wind and solar energy storable, the Essen-based conglomerate Evonik Industries AG announced that it is developing the world’s largest lithium ceramic battery together with partners. Continue reading ‘Evonik Project for World’s Largest Lithium Ceramic Battery’

Evonik Reported to Sell Stake in Steag

The Essen-based conglomerate Evonik Industries AG is reportedly seeking a buyer for a stake in its subsidiary Evonik Steag GmbH, Germany’s fifth biggest power producer. Continue reading ‘Evonik Reported to Sell Stake in Steag’