bpv Huegel has advised together with Linklaters Macquarie European Infrastructure Fund 4 on the sale of Energie Steiermark stake to the Province of Styria for a purchase price of EUR 525 million.
Vienna, 2 March 2023. Energie Steiermark is one of the largest energy distribution and service companies in Austria, with subsidiaries in Slovenia, Czech Republic, France, and Germany. Headquartered in the province of Styria, Energie Steiermark operates a 31,300-kilometre electricity grid network and a natural gas supply network of around 4,200-kilometres. In addition, the business provides district heating, e-mobility services, and electricity generation from renewable energy sources, including wind, hydro-power, solar, and biomass plants.
The business aims to significantly expand Energie Steiermark’s role for clean energy within the grid through additional investment in smart grid infrastructure alongside the deployment of new wind, solar and hydropower capacity.
The transaction is expected to reach financial close in the first quarter of 2023.
The bpv Huegel team was led by Corporate/M&A partner Thomas Lettau. The team also included Christoph Nauer (Partner, Corporate/M&A, Capital Markets), Christian Schneider (Partner, Public Economic Law, Energy Law), Nicolas Wolski (Partner, Tax), Gerhard Fussenegger (Partner, Competition Law), Johannes Mitterecker (Corporate/M&A), Tamara Tomic (Corporate/M&A) and Anna Zirkler (Corporate/M&A).
The bpv Huegel team has advised Macquarie together with Linklaters (Ann-Catherine Hoffmann and Ralph Drebes).
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