DLA Piper has advised EWE-Verband on an exchange of shares with EnBW Energie Baden-Württemberg AG. EWE AG is to sell its 74.2 per cent shareholding in VNG-Verbundnetz Gas Aktiengesellschaft with a book profit to EnBW Energie Baden-Württemberg. This transaction is part of a contract concluded between EWE AG, its municipal shareholders and EnBW AG. A further agreement within this contractual arrangement is that EnBW AG will divest itself of its 26 per cent EWE shareholding over a period of time. EWE AG is to purchase ten per cent of this shareholding, for which a purchase price of EUR 504.8 million has been agreed. The remaining EWE shares held by EnBW AG will be acquired by the municipal shareholders of EWE AG in phases by 2019. The entire transaction is still subject to the approval of the responsible cartel authorities.
 
EWE-Verband is a special-purpose association that has been operating for more than 70 years with the task of providing the area of its association members with a secure, cost-effective and environmentally friendly supply of energy, gas and heat that places little strain on resources. It fulfils these tasks through its shareholding in the EWE joint stock company via its holding companies.

The DLA Piper team comprised of partner Dr Andreas Meyer-Landrut, counsel Dr Cornelius Frie and associate Bettina Haider-Giangreco (all Corporate, Cologne), as well as counsel Guido Kleve (Litigation and Regulatory, Cologne).

In-house advice at EWE came from Dr Hanjo Steinkampf (Head of Legal at EWE AG), Peter Schultz (Group Manager for Corporate Law) and Marcus Stüttgen (Corporate Law Group).
 
Legal support for EWE-Verband was provided by Dr Anika Logemann-Prunk (EWE office).