Hamburg – SEFE Securing Energy for Europe GmbH (SEFE) has acquired all the shares in WIGA Transport Beteili­gungs-GmbH & Co. KG (WIGA) from its co-shareholder Wintershall Dea AG. The transaction is currently awaiting approval from the competition authorities. SEFE is wholly owned by the Federal Republic of Germany. WIGA owns regulated gas pipeline operators GASCADE Gastransport GmbH and NEL Gastransport GmbH, who operate one of the largest high-pressure gas networks in Germany with a combined length of around 4,150 kilometres. These networks have a key role to play in European energy security and the green energy transformation. The transaction will strengthen SEFE in its role of ensuring secure and reliable energy supply in Germany and Europe, as well as boosting its hydrogen ex­pert­ise.“With the full acquisition of WIGA as sole shareholder, we are strategically strengthening SEFE as an independent and autonomous midstream company,” commented Reinhard Gorenflos, Chairman of the SEFE Supervisory Board.“SEFE being the sole shareholder of WIGA will ensure that GASCADE can convert the existing high-performance infrastructure to hydrogen in the future. In this way, we can help drive forward the green energy transformation. Transportation infrastructure is a pivotal part of the future hydrogen value chain,” said Dr Egbert Laege, CEO of SEFE. “The two WIGA subsidiaries, GASCADE and NEL, will continue to operate independently and market their capacity in a transparent and non-dis­crim­in­at­ory manner.”SEFE CFO Dr Christian Ohlms highlighted the importance of WIGA with regard to the privatisation of SEFE, which is due to take place by the end of 2028: “With this transaction, which is expected to complete by summer 2024, we are strengthening SEFE’s asset base. Our aim is to continue the long-term development of SEFE on a stable financial footing.”A multinational CMS team headed by Hamburg-based partner Dr Holger Kraft advised SEFE on all aspects of acquiring WIGA. In addition to extensive due diligence on the entire WIGA Group, including GASCADE and NEL, which are regulated under energy law, this work covered negotiation of the share purchase agreement and separate agreements with the shareholders of Wintershall Dea AG. Alongside negotiating the transaction agreements, the advice focused on safeguarding the transaction through several W&I insurance agreements, including negotiating the policies, and handling regulatory issues relating to gas network operation and other public-law matters. CMS Germany worked closely with the CMS law firms in the UK and Luxembourg, and with US law firm Faegre Drinker Biddle & Reath LLP. CMS previously advised the Federal Network Agency (BNetzA) and the Federal Ministry for Economic Affairs and Climate Action in 2022 and 2023 around their trusteeship over SEFE and its subsequent nationalisation by way of corporate actions. The instructions for this transaction followed on from that successful cooperation. About SEFE:As an integrated midstream energy company headquartered in Berlin, SEFE Securing Energy for Europe ensures the security of energy supply in Germany and Europe and is driving the green energy transformation. SEFE is active in trading & portfolio management, sales, transportation and storage of energy and has its strongest presence in Germany and the UK. SEFE employs around 1,500 people and supplies over 50,000 customers, in particular industrial customers and municipal utilities in Germany and seven other European markets. With a sales volume of around 200 TWh of power and gas, SEFE plays a central role in stability of the energy supply in Germany and Europe. SEFE is owned by the Federal Government of Germany. CMS Germany Dr Holger Kraft, Lead Partner Dr Jan Schepke, Partner Matthias Sethmann, Principal Counsel Dr Dirk Baukholt, Principal Coun­sel Char­lotte von der Heydt-von Kalckreuth, Counsel Dr Stefan Kühl, Senior Associate Dr Paul Kintrup, Senior Associate, all Corporate/M&A Dr Rolf Hempel, Partner Dr Friedrich von Burchard, Partner Nicole Köppen, Senior Associate, all Regulatory Dr Hermann Müller, Partner Dr Arno Görlitz, Associate, both Public Commercial Law Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel, both Tax Dr Alexandra Schluck-Amend, Partner Manuel Nann, Senior As­so­ci­ate Pit-Jo­hannes Wagner, Associate, all Restructuring Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel Dr Lena Pingen, Associate, all Em­ploy­ment/Pen­sions Dr Fritz von Hammerstein, Partner Jan Gröschel, Senior Associate Heike Weyer, Senior Associate, all Public Law Dr Stefan Voß, Partner Tamara Bux, Associate, both Real Estate Dr Sebastian Cording, Partner Martin Krause, Partner Dr Shaya Stender, Associate Joel Coché, Associate, all Commercial Dr Julia Runge, Principal Counsel, Finance Dr Michael Bauer, Part­ner Chris­toff Henrik Soltau, Partner Dr Robert Bodewig, Senior Associate Luisa Thomasberger, Associate, all Antitrust, Competition & Trade CMS UK Russel Hoare, Partner Sam De Silva, Part­ner Jean-Fran­cois Willems, Of Counsel Jennifer Louch, Senior As­so­ci­ate Max­imili­an Weaver, Senior Associate Louisa Mottaz, Associate CMS Luxembourg Angelique Eguether, Senior As­so­ci­ate Guil­laume Flagollet, Managing Associate Faegre Drinker Biddle & Reath LLP (USA) Mollie D. Sitkowski Inhouse at SEFE Securing Energy for Europe GmbH Dr Jörg Kammerer Jörn RimkePress Con­tact presse@cms-hs. com

Frankfurt am Main – Bobst Group SA, a leading global supplier of equipment and services to the packaging industry, has sold its long-standing minority stake of 30% in BHS Corrugated Maschinen- und Anlagenbau GmbH. The transaction sees the majority shareholder, BWV-Well­pap­pen­maschinen Vertriebs-GmbH, acquiring the equity interest back from Bobst Group SA and increasing its majority stake in the BHS Group.A CMS team headed by Dr Hendrik Hirsch advised Bobst Group SA on all legal aspects of the transaction. Ahead of the transaction, CMS also provided Bobst Group SA with comprehensive corporate law advice on its minority stake. Bobst Group SA is based in the Swiss city of Lausanne and is one of the world’s leading suppliers of equipment and services for substrate production, printing and processing. Its customers include the label, flexible packaging, folding box and corrugated board industries. The group generated sales of around CHF 2 billion in 2023. BHS Corrugated Maschinen- und Anlagenbau GmbH is a global supplier of mechanical engineering, plant engineering, lifecycle services and digital solutions for the corrugated board industry. It is headquartered in the Bavarian town of Weiherhammer. CMS Germany Dr Hendrik Hirsch, Partner Dr Maximilian Stark, Senior Associate, both Corporate/M&A Dr Jan Schepke, Partner Dr Armin Dürrschmidt, Partner Marcus Weiler, Senior Associate Dr Philipp Koch, Counsel, all Corporate Stefan Lehr, Partner, Antitrust, Competition & TradePress Con­tact presse@cms-hs. com

Hamburg – Vattenfall has completed a strategic review of its Berlin district heating business and decided to sell it in full to the Federal State of Berlin. An agreement to this effect was signed by...

ESG obligation for Directors and CEOs 1. Do existing directors’ duties contain obligations that apply to matters that could be categorised as an ESG consideration, e.g. the environment, employee welfare...

Hamburg - The Japanese energy investment company Daiwa Energy & Infrastructure Co. Ltd. has acquired 40 percent of the shares in Aquila Capital Holding GmbH (together with its subsidiaries "Aquila Capital")...

Hamburg – A consortium comprising of funds managed and/or advised by Partners Group, InfraRed Capital Partners, DEME Concessions, GE Energy Financial Services and the French Environment and Energy Management...

Hamburg – Airbus and Safeguard have signed an agreement with Hutchinson regarding the sale and transfer of all shares in PFW Aerospace GmbH, a key supplier in the aviation industry. The divestment has...

Hamburg – A consortium comprising of funds managed and/or advised by Partners Group, InfraRed Capital Partners, DEME Concessions, GE Energy Financial Services and the French Environment and Energy Management...

Hamburg – Japanese energy investment company Daiwa Energy & Infrastructure Co. Ltd. has acquired 40 % of the shares in Aquila Capital Holding GmbH (jointly with its subsidiaries “Aquila Capital”)...

Hamburg – DEA Deutsche Erdoel AG has sold three underground natural gas storage facilities operating in southern Bavaria to NAFTA Bavaria GmbH. The buyer is a subsidiary of Slovak NAFTA a.s., a company...

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Inhalt Klicken Sie auf ein Thema, um zum vollständigen Artikel zu gelangen. Entscheidungen des II. Zivilsenats GmbH & Co. KG: Zur Mehrheitsklausel im Gesell­schafts­ver­trag und der Bedeutung des Bestim­mtheits­grundsatzes...