CMS advised Axpo on the sale of its shares in Repower AG
Axpo Holding AG sells its 12.69 % stake in Repower AG to the co-shareholders Canton of Graubünden, Elektrizitätswerke des Kantons Zürich (EKZ) and UBS Clean Energy Infrastructure Switzerland.
Eighteen months ago, Axpo set the ambitious goal of increasing its onshore wind and solar installed capacity by 3 GW and 10 GW respectively by 2030, on an international scale. While the company will retain ownership of some of these newly developed plants, the majority will be sold to other investors. In Switzerland, through its subsidiary CKW, Axpo plans to invest up to CHF 1 billion in photovoltaic, wind power, biomass, hydropower and other technologies within the country’s regulatory and financial framework.
With this in mind, Axpo continuously reviews options to divest non-strategic businesses and shareholdings, enabling it to redeploy the resulting financial resources in growth areas. In accordance with this strategy, Axpo has now successfully disposed its 12.69 % minority shareholding in Repower AG to EKZ, UBS Clean Energy Infrastructure Switzerland and the Canton of Grisons. All parties have agreed not to disclose the purchase price.
Axpo remains the largest producer of electricity from hydropower in the Canton of Grisons and Switzerland.
A team from CMS Switzerland, led by partner Stephan Werlen, advised Axpo on all legal matters of the transaction.
CMS Switzerland
- Dr Stephan Werlen, Partner, Corporate / M&A
- Pascal Stocker, Associate, Corporate / M&A
