DLA Piper has advised EWE AG on the additional purchase of 15 per cent of the shares in VNG – Verbundnetz Gas Aktiengesellschaft (VNG) from Wintershall Holding GmbH.

Wintershall currently holds 15.79 of the shares in VNG, while EWE has 47.9 per cent. The transfer of the shares means that EWE is now the majority shareholder of the Leipzig-based gas transport and trading company. The transaction still requires approval from the cartel authorities after approval has already been given by the responsible committees, including that of the Annual General Meeting of VNG AG. It has been agreed not to disclose the purchase price.

The DLA Piper team, led by partner Dr Andreas Meyer-Landrut, comprised of counsel Dr Cornelius Frie and associate Bettina Haider-Giangreco (all Corporate, Cologne). The merger control procedure is being managed by partner Dr Jan Dreyer and associate Dr Gregor Schroll (both Litigation & Regulatory, Cologne).

The legal department of EWE AG was represented by Dr Hanjo Steinkampf (Head of Law), Christoph Kolpatzik (M&A), Klaus Darimont (Antitrust) and Peter Schultz (Corporate).

EWE AG is one of the largest municipal undertakings in Germany with more than 9,000 employees and a turnover in excess of eight billion Euro. The corporation operates in the north-west of Germany, in the state of Brandenburg and on the island of Rügen as well as internationally in parts of Poland and Turkey. It provides its customers with services in the business areas of electricity, gas and telecommunications. The corporate group has its own capacities for generating energy from renewable and conventional sources and operates modern, secure energy and telecommunications networks.

VNG – Verbundnetz Gas Aktiengesellschaft, which is based in Leipzig, supplies domestic and foreign clients with natural gas from its own production, long-term import contracts and the European trading markets. With a group turnover of eleven billion Euro and some 1,400 employees, VNG AG operates throughout the value added chain of the German and European natural gas industry and focuses on the four business areas of exploration & production, trading & services, transport and storage.