EWE AG
Clifford Chance advises EWE AG on its strategic partnership with EnBW AG
EUROPE, MIDDLE EAST & AFRICA Friday 11 July 2008
The international law firm Clifford Chance advised EWE AG, an energy company based in Oldenburg, on its entry into a strategic partnership with EnBW Energie Baden-Württemberg AG, based in Karlsruhe. EnBW AG will acquire a 26% equity share in EWE AG by way of a stock purchase and by a capital increase. The total transaction value is about EUR 2 billion. The governing bodies of the two companies have already approved the transaction.
EWE AG and EnBW AG plan in the years ahead to co-operate amongst other things on renewable energies, in the gas sector and in international activities. EnBW AG will also assist EWE AG in developing its own conventional power generation. The strategic partnership is subject to the consent of the German Federal Cartel Office.
EWE AG is one of the largest German energy companies with some 4,700 employees and group revenue of EUR 4.7 billion generated in the fiscal year 2007.
The Clifford Chance team was jointly led by partners Dr. Christoph Witte (M&A), Dr. Peter Rosin (Energy Law) and Dr. Joachim Schütze (Antitrust) and included counsels Dr. Björn Heinlein (Energy Law) and Caroline Gilles (M&A) as well as associates Dr. Thomas Brunn, Astrid Wagner, Tina Kasten (all M&A), Kerstin Semmler, Vera Voigt, Holger Fröhlich, Tobias Teschner (all Energy Law), Dominik Becker (Antitrust) and Dr. Peter Christ (Employment) – all Düsseldorf.
