Essen-based STEAG GmbH has sold its regional electricity network in the federal state of Saarland as part of moves to optimise its portfolio. The buyer is Creos Deutschland Holding GmbH. The purchase agreement was signed on 31 July 2017. The purchase price was not disclosed.
A team headed by lead partner Dr Thomas Brunn advised STEAG on all legal and tax aspects of the sale. The sale took place by way of a competitive bidding process set up by STEAG, with Creos Deutschland Holding GmbH emerging as the successful bidder. The disposal of the electricity network is part of the “STEAG 2022” project to realign the company’s portfolio.
The network company sold by STEAG operates a medium and high-voltage network of around 450 km in length in the Saarland region and has 26 employees. The network consists of 194 km of overhead power lines for high voltage transmission (110 kV and 65 kV), 277 km of cable for medium and low-voltage supplies and some 240 supply points. STEAG has been involved in energy production for 80 years and provides its customers with integrated solutions in the area of electricity and heat generation, along with technical services – including internationally.
The Creos Deutschland Group comprises Creos Deutschland Holding GmbH, regional gas distribution grid operator Creos Deutschland GmbH and Creos Deutschland Services GmbH. Its main area of business is supplying gas to nearly 2.5 million people in the federal states of Saarland and Rhineland-Palatinate via a high-pressure gas network extending for almost 1,700 km.
CMS Germany
Dr Thomas Brunn, Lead Partner, M&A
Marcus Fischer, Counsel, Tax
Dr Friedrich von Burchard, Partner, Energy
Dr Christian Scherer-Leydecker, Partner
Jan Helge May, Senior Associate
Dr Michael Bauer, Partner
Stefanie Hankiewicz, Senior Associate, Real Estate & Public
Dr Barbara Bittmann, Partner, Labor, Employment & Pensions
Michael Kamps, Partner, TMC - Technology, Media & Communications
Inhouse at STEAG
Sina Schulenburg, Legal Counsel, Legal Department
Tobias Gwisdalla, Senior Project Manager, Business Development
