Dusseldorf, Baker & McKenzie advised RWE and E.ON on their joint sale of their minority stakes in the Luxembourg utility Enovos.
RWE and E.ON are joint shareholder of Enovos International S.A. 18.4% and 10% respectively. On December 22, 2015 RWE and E.ON signed an agreement to jointly sell their shareholding in the Luxembourg utility Enovos International S.A. to a consortium led by the Grand Duchy of Luxembourg and Ardian, an independent private investment company.
The transaction is conditional upon the approval by the Municipal Council of the City of Luxembourg, the Supervisory Board of RWE AG and the respective antitrust authorities and is expected to close in the first quarter of 2016. The parties agreed to not disclose the purchase price.
Baker & McKenzie advised RWE and E.ON on all legal aspects of the sale.
The Enovos Group is active as utility provider and grid operator in the German, French and Belgian energy market. Enovos International S.A. is a holding company with headquarter in Luxemburg which heads the Enovos Group.
The Baker & McKenzie Corporate/M&A teams advise clients in cross-border transactions and reorganizations on a regular basis. Most recently, Baker & McKenzie provided advice to Deutsche Beteiligungs AG on its acquisition of mageba AG, HITACHI KOKI on its acquisition of the power tool specialist Metabo AG, Barry-Wehmiller Group on the acquisition of Winkler+Dünnebier GmbH, to ZF Friedrichshafen AG on the acquisition of the industrial and wind turbine business of Bosch Rexroth AG, Groupe Le Duff on the acquisition of Kamps, Telefónica/E-Plus on the sale of yourfone to Drillisch, Flowserve Corporation on the acquisition of the SIHI Group, and Hochtief on the sale of the property management business to vincitag and the offshore business to GeoSea.
Baker & McKenzie Team
Lead:
Corporate: Dr. Ingo Strauss (partner, Dusseldorf), Gerald Schumann (partner, Munich)
Team:
Corporate: Jean-Francois Findling (partner, Luxemburg), Amaury-Maxence Bagot (associate, Luxemburg), Dr. Christian Vocke (partner, Frankfurt), Dr. Deny-Jean Silny (senior associate, Dusseldorf)
