Energy provider E.ON has sold a 43% stake in its subsidiary E.ON Thüringer Energie to municipal consortium Kommunaler Energiezweckverband Thüringen (KET). The transaction involves a volume of approx. 900 million euros, which includes the assumption of approx. 400 million euros of shareholder loans by KET. The transaction is subject to final approval by the relevant local authorities.
E.ON Thüringer Energie AG has a workforce of 1.400 employees and supplies residential, commercial and industrial customers and 27 public utilities in Thüringen and Saxony-Anhalt with electricity, natural gas and district heat. In fiscal year 2011 E.ON Thüringer Energie AG generated revenues of approx. 1.35 billion euros and a surplus of approx. 100 million euros. E.ON previously held a 53% stake in E.ON Thüringer Energie AG.
Kommunaler Energiezweckverband Thüringen was advised by the following team of Gleiss Lutz lawyers jointly led by Dr. Gabriele Roßkopf (Stuttgart), Dr. Fred Wendt (Hamburg) and Dr. Jan Balssen (Munich, all partners, corporate/M&A): Dr. Fabian Dietz-Vellmer (Munich), Christian Zimmermann (Hamburg, both corporate/M&A), Dr. Marcus Dannecker (partner, public law, Stuttgart), Dr. Ulrich Soltész (partner, EU law, Brussels), Dr. Achim Dannecker (partner) and Dr. Cindy Lahusen (both tax, Stuttgart), Dr. Charlotte Beck (pensions, Berlin), Dr. Helge Kortz (partner) and Frank Schlobach (both banking/finance, Frankfurt).
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