Gleiss Lutz advises E.ON and Stadtwerke Bielefeld on the sale of Netz Veltheim to TenneT

Gleiss Lutz advised E.ON Kraftwerke GmbH and Stadtwerke Bielefeld GmbH on the sale of Netz Veltheim GmbH to TenneT TSO GmbH. Until now E.ON Kraftwerke GmbH and Stadtwerke Bielefeld GmbH held stakes of 66.67 and 33.33 percent, respectively, in Netz Veltheim GmbH.

Netz Veltheim GmbH operates a 220-kilovolt extra-high voltage network with a total length of approx. 180 kilometres as well as the related transformer facilities in the East Westphalia-Lippe region. With the purchase of the extra-high voltage network, Bayreuth-based grid operator TenneT is also acquiring areas of the Bielefeld/Ost, Meißen, Lage and Veltheim substations as well as the Eickum, Bechterdissen and Grohnde substations. With a total length of high voltage and extra-high voltage lines of around 21,000 kilometres, TenneT is a leading transmission network operator in Germany and Europe.

E.ON and Stadtwerke Bielefeld were advised by the following team of Gleiss Lutz lawyers: Dr. Thomas Menke (lead, partner), Dr. Marc Seeger, Alexander Kebernik (all corporate/M&A, Düsseldorf), Prof. Dr. Christoph Moench (partner), Dr. Marc Ruttloff (both public law, Berlin), Dr. Johann Wagner (partner), Dr. Katja Scharkowski (both tax, Hamburg).

Dr. Sascha Fehlemann of E.ON’s legal department was responsible for the transaction. Melanie Steinriede (head of legal) was responsible at Stadtwerke Bielefeld.