Ashurst advised EWE AG, one of Germany's large utilities, on the sale of its Osnabrück-based subsidiary E3/DC GmbH specialising in energy management and storage to Hager Group.

 

The acquisition agreement was signed on 12 December 2017. Subject to the approval of the German Competition Authority, the acquisition will be effective as of 1 January 2018. The parties have agreed not to disclose the purchase price.

 

The Ashurst team was led by partners Dr Maximilian Uibeleisen (energy/commercial contracts) and Dr Benedikt von Schorlemer (M&A/energy). Partner Dr Martin Bünning advised on tax law. Senior associate Holger Mlynek (energy/commercial contracts), the associates Jan van Kisfeld, Jan Ischreyt (both M&A) and Simon Groneberg (energy), the senior associates Francois Maartens Heynike (IP/IT) and Juditha von der Heydt (employment) as well as Daniela Kowalsky (real estate, all Frankfurt) assisted.

 

Ashurst teams led by Maximilian Uibeleisen, head of Ashurst's German resources and infrastructure practice, and Benedikt von Schorlemer regularly advise on transactions in the energy sector, in particular in the field of renewable energies, but also in the conventional power market, most recently in relation to the intended acquisition of 49 per cent of the shares in STEAG's district heating business by Dutch Infrastructure Fund (DIF).

 

Founded in Osnabrück in 2010, E3/DC GmbH is now the German market leader for grid-connected sources using local and emergency solar power supply, providing the ultimate in self-sufficiency and savings for private and commercial buildings. E3/DC currently employs a workforce of just under 80 employees in Osnabrück, Göttingen, Munich and Wetter in North Rhine-Westphalia. As an independent family-owned and family-run company in Blieskastel, Germany, Hager Group is leading provider of solutions and services for electrical installations in residential, commercial and industrial buildings.