Gleiss Lutz has advised MEAG on the sale of its 49% stake in Iqony Fernwärme GmbH to the 51% shareholder Iqony Asset Management.
Iqony Fernwärme, which supplies approximately 1.6 billion kWh of district heating each year in Bottrop, Essen and Gelsenkirchen, will now become a 100% subsidiary of Steag Iqony Group.
Iqony Asset Management is a STEAG (now Asterion Group) company. Its portfolio includes not only solar, wind and geothermal energy, but also hydrogen solutions, storage technologies, engineering services and gas-fired power plants. With around 2,600 employees worldwide, it implements projects for major industrial companies, utilities, cities and municipalities in numerous countries across the globe.
The transaction emphasises the strategic importance of the district heating business segment to Steag Iqony Group, confirming the Group’s long-term growth targets to STEAG investor Asterion.
MEAG is the asset manager of Munich Re Group and also invests on behalf of external institutional investors and private clients. It currently manages assets totalling approximately EUR 362 billion, of which EUR 63 billion is on behalf of external investors.
The following Gleiss Lutz team led by Dr. Alexander Schwarz (partner, Düsseldorf), Dr. Cornelia Topf (partner, Frankfurt) and Dr Fabian Mumme (all M&A, Düsseldorf) advised MEAG:
Dr. Bosede Staudenmayer (Stuttgart), Leonie Schröck, Julia Wohlmuth (beide Frankfurt), Kai Zimutta (all M&A, Düsseldorf), Dr. Jacob von Andreae (partner), Dr. Lars Kindler (counsel), Aylin Hoffs (counsel), Vivien Etzkorn (all Düsseldorf), Caroline Konsek (all Public Law, Stuttgart), Konrad Discher (counsel, Real Estate, Frankfurt), Dr. Manuel Klar (counsel, Data Protection, Munich), Dr. Stefan Weidert (partner, Berlin), Christian Eulenpesch (counsel), Dr. Christopher Noll (all IP/Tech, both Stuttgart), Dr. Helge Kortz (partner), Dr. Jan-Alexander Lange (counsel), Dr. Marcel Beck (all Banking & Finance, all Frankfurt), Dr. Rut Steinhauser (partner), Josefine Chakrabarti (counsel), Dr. Sophie Bahr (all Employment, all Berlin), Dr. Ulrich Soltész (partner), Dr. Harald Weiß (counsel, both Brussels), Dr. Iris Benedikt-Buckenleib (counsel, all Competition/Antitrust, Munich), Dr. Johann Wagner (partner, Tax, Hamburg), Laura Kremer, Philipp Szymanowski (both Compliance, both Frankfurt).
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