CMS advises STEAG on successful acquisition of major power plant project
Düsseldorf – Essen-based energy producer STEAG GmbH is acquiring a project to construct a gas and steam power plant in Leverkusen from Swiss company Repower AG. The construction plan involves a plant with a capacity of around 570 MW that will produce steam for the CHEMPARK chemical industry site in Leverkusen, in addition to generating electricity. Repower is withdrawing from the project. The purchase price was not disclosed. STEAG wants to diversify its generation portfolio in Germany and intends to make a final decision on construction in Leverkusen once a reliable energy policy framework is in place. The acquisition gives STEAG the opportunity to build a large-scale, economically viable power plant with relevance for North Rhine-Westphalia and industry across the region.
A team from CMS headed by lead partner Dr Thomas Brunn advised STEAG on all legal aspects of the transaction.
STEAG has been involved in energy generation for over 75 years. Its service portfolio includes the planning, construction and operation of large power plants and decentralised energy facilities, along with asset-based power trading. In 2013, STEAG’s 6,400 employees generated sales of EUR 3.1 billion.
CMS Hasche Sigle
Dr Thomas Brunn, Lead Partner
Dr Roman Sprenger
Reimund Marc von der Höh
Leif Herzog, all M&A
Dr Carolin Küll, both Energy
Dr Christian Friedrich Haellmigk
Agnes Wippich, both Energy Competition Law
Dr Holger Kraft
Matthias Carsten Sethmann, both Plant Engineering
Dr Konrad Walter, Public Law
Dr Michael Brück, Real Property
Marcus Fischer, both Tax
CMS von Erlach Poncet
Dr Clemens von Zedtwitz, Swiss Law