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Tax

Providing comprehensive advice on national and international tax issues is one of CMS's core competencies. Our excellently networked tax team combines broad expertise with specialisations and many years of experience in advising companies, groups, family businesses and family offices, financial institutions, private individuals, non-profit organisations (NPOs) and the public sector at numerous locations throughout Germany and internationally. 

Our team supports you in all tax areas, including transfer pricing issues and specialised tax matters. In addition, we support our clients in tax disputes not only in the run-up to a legal dispute, but also represent them before the fiscal courts. 

Focal points

Our areas of specialisation include in particular

  • Corporate and group tax law
  • Tax support for M&A and PMI projects
  • Advice on external audits and tax disputes (in and out of court)
  • Tax compliance (prevention, defence advice and defence)
  • Real estate tax law
  • Investment tax law (fund structuring and fund investments)
  • Taxation of the digital economy (crypto and blockchain)
  • Indirect taxes (VAT, insurance tax, energy and excise duties) and customs duties
  • Tax advice in insolvency and crisis situations
  • Succession taxation and HNWIs

Future-facing - forward-looking and sustainable tax advice

The complexity of the national and global tax landscape is constantly and rapidly increasing. This presents companies, entrepreneurs and private individuals with ever new challenges. We keep an eye on all tax law developments for you and support you in reacting to them in good time with forward-looking and sustainable solutions. 

Our expertise is not limited to the legal aspects. We understand the economic environment in which our clients operate and translate our customised advice into efficient and pragmatic solutions. 

Interdisciplinary and international - customised solutions from a single source 

Almost every legal and life situation is associated with tax law issues. Our experienced teams have a trained eye for the interrelationships and work closely with all other practice areas and legal fields at CMS. 

Depending on the individual requirements of your project, we regularly work with other CMS legal disciplines, such as labour law, corporate M&A, private clients, real estate & public or restructuring and insolvency, or call in the relevant CMS experts for you. 

We also advise and coordinate international issues and cross-border mandates for you in international teams, depending on the requirements of the individual case. 

With over 500 CMS tax experts in more than 40 jurisdictions, we ensure that your interests are represented worldwide and realised from a single source.

Choose an area

Erbschaftsteuerliche Optimierung
Inheritance Tax Planning
Tax efficient ways to bequeath an estate or give a lifetime gift. The German population has collectively generated huge amounts of private wealth that
Post Merger Integration
Post-merger integration (PMI)
The closing marks the end of a successful acquisition process, but not the end of the challenge of the deal itself. Expectations of a corporate transa
Umstrukturierung von Firmenstrukturen
Reorganising Company Structures
We can optimise your corporate architecture. Company structures often evolve over a long period of time and are further complicated by acquisitions. I
Steuerliche Sonderfragen
Specialist Tax Matters
Unusual requirements are our speciality. The comprehensive advisory work of CMS GmbH Steuerberatungsgesellschaft includes specialist tax matters acros
Strukturierung von Immobilieninvestments
Structuring of Real Estate Investments
We maximise the tax efficiency of your real estate investment. Property transfer tax is an important topic when investing in real estate, as is VAT in
Unternehmensnachfolge
Tax Aspects of Corporate Succession
Enabling a stress-free handover. For many medium-sized companies, it will soon be time to hand over the business to the next generation. There are var
Tax Compliance
Our experts work with you to implement regulatory requirements without creating unnecessary bureaucratic obstacles.Overview of our expertise:. Non-fin
Steuern bei M&A Transaktionen
Taxes in M&A transactions
You are planning to buy or sell a company, would like to merge or set up a joint venture? The challenges and measures which need to be considered in o

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14/03/2022
Post-Merger Integration - CMS PMI services
CMS PMI services
14/07/2020
Disclosure Requirements for Cross-border Tax Arrangements
New disclosure requirements under DAC 6 On 25 June 2018, the sixth amendment to the EU Directive on Administrative Cooperation (2011 / 16 / EU) on man­dat­ory auto­mat­ic exchange of information in the...

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02/07/2024
CMS advises IT group Bechtle on acquisition of Magnetic Media Network
Stuttgart, 02.07.2024 – Neckarsulm-based Bechtle AG has acquired Italian company Magnetic Media Network S.p.A. (MMN), which has its headquarters in Trezzo sull’Adda near Milan and operates another location in Roncade near Venice. Established in 1989, MMN describes itself as one of the leading IT solutions providers in Italy. The firm has around 100 employees and generated sales of some EUR 68.6 million in the 2022/23 financial year. The acquisition will enable Bechtle to significantly strengthen its position in the Italian market while also expanding its European partnership with Apple. Further details of the transaction were not disclosed.A German-Italian CMS team headed by lead partner Dr Tobias Schneider advised Bechtle AG on all legal aspects of the acquisition. MDAX and TecDAX-listed IT group Bechtle is a longstanding CMS client and regularly relies on the expertise of teams led by CMS partner Schneider. Previous work by CMS for Bechtle includes advising on its recent expansion in the Netherlands by acquiring Fondo ICT Professionals B.V., a specialist in VMware and software, and in France through buying IT solutions provider Apixit S.A.S. CMS Germany Dr Tobias Schneider, Lead Partner, Corporate/M&A CMS Italy Dietmar Zischg, Lead Partner Italy Alessandro Sassone, Senior Associate, both Corporate/M&A Federico Raffaelli, Partner Lorenzo Serena, Senior Associate, both Tax Alessandra Boati, Counsel, Em­ploy­ment Cristina Melentieva, Senior Associate, Real EstatePress Con­tact presse@cms-hs. com
01/07/2024
CMS advises Krone Group on investment in Schwarzmüller Group
The Krone Group has announced that it has taken a stake in the Schwarzmüller Group and is entering into an industrial partnership in the European commercial vehicle industry. It was advised in this context by an international team from commercial law firm CMS.
19/06/2024
CMS advises Haufe Group on sale of Haufe-Lexware Real Estate to SaaS provider...
Berlin, 20.06.2024 – Haufe Group SE, a leading B2B provider of integrated business and workplace solutions, has entered into an agreement to sell all the shares in Haufe-Lexware Real Estate AG to Aareon, a market leader in SaaS solutions for the property industry. The aim of the acquisition is to transfer Haufe-Lexware Real Estate AG’s existing ERP software solutions for the property and housing sector to the Aareon Group’s product portfolio. Completion of the deal is expected at the end of June 2024.A CMS team headed by partners Jesko Nobiling and Dr Jörg Zätzsch advised Haufe Group on all legal and tax aspects of the transaction. Haufe Group regularly relies on advice from teams headed by the two CMS partners. Recent examples include the sale of its Umantis talent management business to Swiss software company Abacus Research AG and the sale of tax return start-up Steuerbot GmbH to Taxfix SE. CMS Germany Dr Jörg Zätzsch, Lead Partner, Corporate/M&A Jesko Nobiling, Lead Partner, Tax Dr Karsten Heider, Partner Dr Friedrich von Spee, Counsel Dr Kevin Schmidt, Senior As­so­ci­ate Madeline Göbel, Senior Associate Dr Maximilian Koch, Senior Associate Dr Sven Möller, Associate Nadine Fröhlich, Project Manager, all Corporate/M&A Mariya Ivanova, Senior As­so­ci­ate Al­ex­an­der Selentin, Associate, both Tax Dr Alexandra Otto, Partner Patricia Jares, Principal Counsel, both Labor, Employment & Pensions Dr Ole Jani, Partner Dr Huy Do Chi, Counsel, both IP Dr Rolf Hempel, Partner Martin Cholewa, Counsel, both Antitrust, Competition & Trade Prof. Malte Grützmacher, Partner Julia Bald, Associate, both TMC Dr Mirko Zorn, Principal Counsel, Real Estate & Public Birgit Wagner, Smart OperationsPress Con­tact presse@cms-hs. com
14/06/2024
CMS advises a consortium of Swiss Life and Vesper on the acquisition of...
Duesseldorf – An international and mul­tidiscip­lin­ary CMS team has advised a consortium of Swiss Life Asset Managers, on behalf of their infrastructure funds, and Vesper Next Generation Infrastructure Fund I SCSp on the acquisition of all shares in RAD-x SAS, a leading Pan-European diagnostic imaging platform, from private equity investor Gilde Healthcare. RAD-x is one of the leading diagnostic imaging providers in Germany and Switzerland. Through its continued focus on technology and innovation, RAD-x remains at the forefront of diagnostic imaging as it provides high quality and reliable diagnostic services to its patients. Established in 2011, the Swiss Life Asset Managers Infrastructure Equity platform manages over EUR 10bn in Assets under Management for its clients and partners, and includes 75 infrastructure investments across the energy, communications, transportation, regulated utilities, social infrastructure and renewable energy sectors. Vesper Infrastructure Partners’ Next Generation Infrastructure Fund I is a closed-end alternative investment fund based in Luxembourg managed by Sanne LIS, which pursues infrastructure investment opportunities, including healthy living solutions. CMS Germany Dr Sebastian Becker, Partner Ole Gunnar Weyand, Senior Associate Nina Becker, As­so­ci­ate Car­oline Rolf, Associate Greta Ludewig, Associate, all Private Equity/M&A Dr Martin Friedberg, Partner Dr Hendrik Arendt, Senior Associate, both Tax Dr Angela Emmert, Partner Lennard Lürwer, Counsel Daniel Hennig, Counsel Dr Mario Brungs, Counsel Dr Yannick Schmitter, Associate, all Employment Law Dr Andreas Hofelich, Partner, Pensions Dr André Frischemeier, Partner Thomas Schaak, Senior Associate Dr Dirk Schmidbauer, Associate, all Finance Kai Neuhaus, Partner Dr Björn Herbers, Partner Moritz Pottek, Counsel David Rappenglück, Associate, all Antitrust and Foreign Investment Control Dr Roland Wiring, Partner Philippe Heinzke, Partner Dr Siham Hidar, Senior As­so­ci­ate Se­basti­an Vautz, Senior Associate Noah Rodenkirchen, Associate, all IP Maike Füchtmann, Senior Associate, Real Estate & Public CMS UK Narinder Jugpal, Partner Ben Mc­Par­land Jen­nifer Ross, all Private Equity/M&A Patrick Donegan, Partner Andreas Göller, both Finance CMS France Thomas Hains, Part­ner Anne-Flore Millet Louise Paysant CMS Switzerland Stephan Werlen, Part­ner Ferdin­and BlezingerPress Con­tact presse@cms-hs. com
12/06/2024
Joint venture to strengthen engagement in Ukraine: CMS advises GOLDBECK...
Berlin – GOLDBECK SOLAR Investment and the European Bank for Reconstruction and Development (EBRD) have signed an agreement to establish the joint venture company GOLDBECK SOLAR Investment Ukraine on the sidelines of the Ukraine Recovery Conference. Completion of the transaction is subject to the usual regulatory approvals. The aim of the joint venture is to develop, finance, build and operate solar energy projects in Ukraine, thereby supporting Ukraine's energy independence and resilience. GOLDBECK SOLAR Investment Ukraine plans to realize up to 500 MWp of solar projects in the next three to five years. Construction of the first solar park is set to begin in autumn 2024. GOLDBECK SOLAR wants to set an example with the joint venture. The company sees great potential in Ukraine and is confident that it will not only make a sustainable contribution to the country's energy supply, but also encourage other companies to follow this path. GOLDBECK SOLAR and the EBRD have already worked together on previous debt financing transactions in Poland and Kazakhstan. An international CMS team headed by lead partner Dr Igor Stenzel provided comprehensive legal advice to GOLDBECK SOLAR Investment during the negotiation of the agreements to establish the joint venture. GOLDBECK SOLAR Investment GmbH, based in Hirschberg an der Bergstraße in Baden-Wuerttem­berg, is part of the GOLDBECK SOLAR Group, a leading global provider of EPC and O&M services. Founded in 2018, the company specializes in project development, acquisition and sales, structuring, financing and asset management from the owner's perspective. It is currently active in twelve countries and has a project development portfolio of over four GWp and a project portfolio of completed assets of over 440 MWp. CMS Germany Dr Igor Stenzel, Lead Part­ner Al­ex­an­der Gaul, Associate Dr Hanna Heimrath, Research Associate, all Corporate/M&A Dr Jens Moraht, Partner, Banking, Finance & Insurance Dr Rolf Hempel, Partner Elisa Götz, Associate, both Antitrust, Competition & Trade Dr Martin Friedberg, Partner, Tax law CMS Ukraine Vitaliy Radchenko, Partner, Energy Olga Belyakova, Partner Mykola Heletiy, Senior Associate, both Com­pet­i­tion Mari­ana Saienko, Senior Associate, Corporate/M&APress Con­tact presse@cms-hs. com  
10/06/2024
CMS advises Metzler Pension Management GmbH on acquisition of Nürnberger...
Frankfurt am Main – Metzler Pension Management GmbH has acquired all the shares in Nürnberger Pensionsfonds AG from Nürnberger Lebens­ver­sicher­ung AG. The transaction is subject to the usual regulatory conditions, including completion of the holder control procedure by the German Federal Financial Supervisory Authority (BaFin). Nürnberger Pensionsfonds AG’s portfolio management, which has to date been conducted within the group, will be outsourced to an external portfolio manager once the transaction has completed.A CMS team headed by partner Dr Hendrik Hirsch advised Metzler Pension Management GmbH, which is part of Metzler Bank, on all legal aspects of the transaction. Metzler Bank is a longstanding CMS client and relies on the team’s expertise on a regular basis. Metzler Pension Management GmbH offers a wide range of services and financing vehicles for occupational pension schemes, with a focus on capital market-based solutions for structuring pension as­sets.NÜRN­BER­GER Pensionsfonds AG (NPF) covers one of the five implementation methods for occupational retirement provision in Germany. NPF’s products provide employers with various options for removing pension obligations from the balance sheet. Assets under NPF management amounted to around EUR 290 million as at the end of 2023. The portfolio comprises more than 700 companies with some 3,600 individual pension accounts. CMS Germany Dr Hendrik Hirsch, Lead Partner Dr Maximilian Stark, Senior Associate Dr Petra Schaffner, Partner, all Corporate/M&A Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel, both Labor, Employment & Pensions Dr Winfried Schnepp, Partner Dr Thomas Maur, Partner Dr Eva Margareta Wolff, Principal Counsel  Dr Aline Icha-Spratte, Coun­sel Kath­ar­ina Kipar, Senior Associate, all Insurance Dr Annett Kenk, Principal Coun­sel  Stef­fen Preis, Senior Associate, both Tax Theresa Lenger, Senior Associate, TMC Stefan Lehr, Partner Kirsten Baubkus-Gérard, Senior Associate, both Antitrust, Competition & TradePress Con­tact presse@cms-hs. com
29/05/2024
Recent changes on taxes levied on consumption and the potential impacts...
The Brazilian market is currently undergoing significant changes in its tax system, with focus on simplification and international alignment. One of the major changes involves a reform of the taxes imposed on the consumption of goods and services. The objective is to restructure the tax system, ease compliance obligations, and eliminate cascading effects resulting from the imposition of these taxes. A notable aspect of this reform is the adoption of a dual VAT system. The dual VAT system is designed to replace existing taxes on consumption. These changes indicate a strategic shift towards a more efficient taxation approach. In addition to con­sump­tion-re­lated taxes, recent updates include a new transfer pricing legislation aligned with the guidelines set by the Organization for Economic Cooperation and Development (OECD). This demonstrates Brazil's commitment to international standards and practices, providing a more globally consistent framework for multinational groups operating in the country. Overall, the anticipation of a decrease in bureaucratic obstacles for tax compliance and a more predictable tax treatment for transactions involving related parties is a positive signal for investors. This can potentially create a more favorable business environment, encouraging both local and foreign investors to consider initiating or expanding their operations in Brazil. For a deeper dive into these transformative changes in the Brazilian tax landscape, you are invited to participate in this webinar. The session will be a great source of insights for investors seeking to navigate and capitalize on the emerging opportunities in the Brazilian market. The webinar will be presented by Juliana Porchat de Assis, partner in Tax Planning, Transactional, and International Operations practices at FAS Advogados in cooperation with CMS.
28/05/2024
Strategic restructuring: CMS advises Hydro Systems shareholder on merger...
Stuttgart – Hydro Systems KG, based in Biberach (Baden-Württem­berg), and Rhinestahl, which is headquartered in Cincinnati, USA, have merged to become R-H Aviation. The two aviation suppliers are aiming to boost their market position, achieve continued growth and create a new global industry champion for ground support equipment (GSE) and tooling. They are also seeking to play a greater role in speeding up decarbonisation. In addition, the merger marks the completion of a succession arrangement for Hydro Systems KG. R-H Aviation’s headquarters is located in Cincinnati, but Hydro Systems will remain in Biberach and the location will be further strengthened. Other details of the transaction were not disclosed. An international CMS team headed by lead partners Dr Maximilian Grub and Dr Kai Wallisch advised the shareholder of Hydro Systems on all legal aspects of the merger. A particular focus was on structuring the transaction from a corporate and tax law viewpoint, the merger control and foreign trade approval procedures, and on financing issues. Hydro Systems has around 650 employees. For some 60 years, it has been developing and producing innovative solutions for the assembly, maintenance and repair of civil and military aircraft. In addition to its main site in Biberach, the company has locations in Germany, China, the UK, France, Singapore, the US and the United Arab Emirates. Hydro’s business areas include GSE, tooling (with a focus on Airbus and Rolls-Royce) and worldwide service. CMS Germany Dr Maximilian Grub, Lead Partner Dr Kai Wallisch, Partner, Lead Partner Dr Christian Zielonka, Principal Counsel Birgit Schlemmer, Senior As­so­ci­ate Mil­itsa Decheva Petrova, Senior Associate Yella Schick, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr Christian Friedrich Haellmigk, Partner Kai Neuhaus, Partner David Rappenglück, Associate Malena Hansen, Senior Associate, all Antitrust, Competition & Trade Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel Lukas Braun, Senior Associate Tobias Wacker, Associate, all Tax Dr Volker Zerr, Partner Michelle Schickinger, Senior Associate Maike Füchtmann, Senior Associate, all Real Estate & Public Dr Marc Seibold, Partner Carl Werner, Principal Counsel Dr Andreas Grunert, Principal Counsel Julian Lacher, Senior Associate Carla Kaeber, Associate, all Banking, Finance & Insurance CMS Shanghai Michael Munzinger, Counsel Ran Li, Associate Locke Lord, Houston, Texas Edward A. Razim III, Partner Jaremy Chilton, Tax PartnerPress Con­tact presse@cms-hs. com
24/05/2024
CMS advises Dutch investor Stibbe Participaties on the sale of Heinkel...
Frankfurt/Main – The Alsatian family-owned group, De Dietrich Process Systems, acquires the Heinkel Group. Seller is the Dutch investor Stibbe Participaties. The Heinkel Group, with its recognized brands HEINKEL, COMBER, BOLZ-SUMMIX and JONGIA, is an international premium provider of solid-liquid separation solutions and drying and mixing systems, mainly for the pharmaceutical, chemical and food industries. Stibbe Participaties acquired the companies in 2005 after a turbulent time caused by a sharp downturn in the pharmaceutical industry and has developed Heinkel Group through add-on acquisitions to an international player in its sector. The combination of solid German management and hands-on support from Stibbe Participaties led to a revival of Heinkel – resulting in a strong market position and a stable recurring income from after sales and service. With the strategic merger of Heinkel Group and De Dietrich, De Dietrich enriches and broadens its portfolio and becomes a global leader in the fields of solid-liquid separation and the drying of active ingredients. An international CMS team headed by lead partner Dr Hendrik Hirsch advised Stibbe Participaties on all legal aspects of the transaction, including legal advice in more than seven jurisdictions (including Germany, the USA, Italy, the Netherlands, China, Singapore and India), legal support on the auction process and negotiation of contractual terms for the best possible integration of the Heinkel Group into the group of the successful bidder as the new owner as well as on tax and IP topics. Stibbe Participaties, based in Laren, Netherlands, is a family-held investor pursuing a buy-and-build strategy. The firm focuses on midsize industrial manufacturing companies with an experienced management and a position in a niche market with potential for market leadership. CMS Germany Dr Hendrik Hirsch, Lead Partner Maxine Notstain, Senior Associate, Co-Lead Markus Herz, Partner Dr Till Alexander von Poser, Associate, all Corporate/M&A Dr Hendrik Arendt, Senior Associate Dr Martin Friedberg, Partner, both Tax Dr Thomas Hirse, Part­ner Se­basti­an Vautz, Senior Associate Lisa Dietrich, Associate, all IP Till Komma, Counsel Lena Schauer, Associate, both Banking, Finance & Insurance Moritz Pottek, Counsel, Antitrust, Competition & Trade Tina Karakurt, Counsel Dr Franz Maurer, Counsel, both Real Estate & Public Dorothée Janzen, Partner, Com­mer­cial Birgit Wagner, Legal Manager, Smart Operations SMOP CMS Netherlands Pieter van Duijven­voorde Car­ola Bruijn Pieter de Kanter CMS Italy Daniela Murer Alessandra Cuni Sara TammarazioPress Con­tact presse@cms-hs. com
09/04/2024
CMS advises TIS on sale to Marlin Equity Partners
Munich – Treasury Intelligence Solutions GmbH (TIS) has announced that it has signed a binding agreement to sell a majority stake to global investment firm Marlin Equity Partners (Marlin). TIS, a global leader in cloud-native cash management, liquidity and payment solutions, will use the investment to which Marlin has committed under the terms of the deal to drive forward growth of the company and expand the product range. The transaction is expected to complete in the second quarter of 2024. TIS co-founder Jörg Wiemer, Aquiline Capital Partners LP and the management team will retain a significant minority interest in the company.A CMS team headed by partner Dr Jessica Mo­haupt-Schneider and counsel Dr Christoph Küster advised both the company and the management team on specific legal aspects of concluding the agreement. The company and its management team have thus again relied on CMS’s expertise, after a CMS team recently worked on the acquisition of Cashforce, a Belgian fintech start-up offering AI-powered cash management and cash forecasting solutions. CMS Germany Dr Jessica Mo­haupt-Schneider, Lead Partner Dr Christoph Küster, Lead Counsel Dr Tilman Weichert, Part­ner Mar­i­elouise Emmer, Senior As­so­ci­ate Mat­thi­as Unger, Senior Associate Maria Kucher, Associate, all Corporate/M&A Jörg Schrade, Partner, TaxPress Con­tact presse@cms-hs. com
02/04/2024
CMS advises Main Street Capital Corporation on the acquisition of Maass...
Ham­burg/Stut­tgart – Main Street Capital Corporation, a publicly traded financial investor based in Houston, Texas, has acquired Maass Global Group through one of its portfolio companies, Gulf Manufacturing, LLC. The Essen-based company is a global leader in the manufacture and sale of flanges and forged specialty products, forged steel bars, seamless tubes and fittings made of duplex, stainless steel and high-nickel alloys. In addition to its headquarters in Essen, the Maas Global Group has further locations in the Netherlands, the United Kingdom, India, Singapore and the United Arab Emirates.A CMS team led by Dr. Eckart Gottschalk and Dr. Kai Wallisch provided comprehensive legal advice to Main Street Capital Corporation on this transaction. In addition to corporate law advice, the focus was on the legal implementation of the financing. As part of the transaction, CMS Germany worked closely with CMS law firms from the Netherlands, Singapore and the United Arab Emirates as well as the American law firm Locke Lord and AZB & Partners from India. Main Street Capital Corporation is a publicly traded investment company with a market capitalization of approximately USD 3.9 billion. It specializes in long-term financing of middle-market companies in various industries through management buyouts, re­cap­it­al­iz­a­tions, growth financing and acquisitions. With the investment to acquire Maas Global Group, Main Street Capital Corporation is deepening its existing investment in the manufacturing of flanges, fittings and other specialty products for industrial applications. CMS Germany Dr. Eckart Gottschalk, Lead Partner Dr. Kai Wallisch, Lead Partner Dr. Paul Kintrup, Senior As­so­ci­ate Mil­itsa Decheva Petrova, Senior Associate Dr. Alexander Weinhold, Senior As­so­ci­ate Tjorben Drawe, Associate Sonja Schanze, As­so­ci­ate Kath­rin Dengel, Associate, all Corporate/M&A Dr. Marc Seibold, Partner Anne Waßmuth, Counsel Carla Kaeber, Associate, all Banking & Finance Dr. Hans Fabian Kiderlen, Principal Counsel Theresa Friedle, Associate, both Real Estate & Public Dr. Michael Kraus, Partner Thomas Fröhlich, Counsel, both TMC Dr. Jacob Hinze, Counsel, Employment Law Dr. Martin Mohr, Partner, Tax Christoff Henrik Soltau, Partner Dr. Robert Bodewig, Senior Associate, both Antitrust, Competition & Trade Kai Neuhaus, Partner Moritz Pottek, Counsel, both Brussel EU Law Office CMS Netherlands Roman Tarlavski, Partner Maarten Feenstra, Associate Fleur Assendelft de Coningh, Associate Anne Fleur Krijthe, Candidate civil law notary CMS Singapore Toby Grainger, Partner Leslie Tay, Associate CMS UAE Patrik Daintry, Partner Fawzi Oueidat, Associate Locke Lord Greg Heath, Partner Nicholas Jennings, Partner Jason Ulezalka, Partner Case Towslee, Associate Jake Chagoury, Associate Mason Marek, Associate AZB & Partners Srinath Dasari, Senior Partner Gautam Rego, Partner Yash Anand, Associate Gopika Menon, AssociatePress Con­tact presse@cms-hs. com
26/03/2024
CMS advises SEFE on all aspects of acquiring WIGA Group
Hamburg – SEFE Securing Energy for Europe GmbH (SEFE) has acquired all the shares in WIGA Transport Beteili­gungs-GmbH & Co. KG (WIGA) from its co-shareholder Wintershall Dea AG. The transaction is currently awaiting approval from the competition authorities. SEFE is wholly owned by the Federal Republic of Germany. WIGA owns regulated gas pipeline operators GASCADE Gastransport GmbH and NEL Gastransport GmbH, who operate one of the largest high-pressure gas networks in Germany with a combined length of around 4,150 kilometres. These networks have a key role to play in European energy security and the green energy transformation. The transaction will strengthen SEFE in its role of ensuring secure and reliable energy supply in Germany and Europe, as well as boosting its hydrogen ex­pert­ise.“With the full acquisition of WIGA as sole shareholder, we are strategically strengthening SEFE as an independent and autonomous midstream company,” commented Reinhard Gorenflos, Chairman of the SEFE Supervisory Board.“SEFE being the sole shareholder of WIGA will ensure that GASCADE can convert the existing high-performance infrastructure to hydrogen in the future. In this way, we can help drive forward the green energy transformation. Transportation infrastructure is a pivotal part of the future hydrogen value chain,” said Dr Egbert Laege, CEO of SEFE. “The two WIGA subsidiaries, GASCADE and NEL, will continue to operate independently and market their capacity in a transparent and non-dis­crim­in­at­ory manner.”SEFE CFO Dr Christian Ohlms highlighted the importance of WIGA with regard to the privatisation of SEFE, which is due to take place by the end of 2028: “With this transaction, which is expected to complete by summer 2024, we are strengthening SEFE’s asset base. Our aim is to continue the long-term development of SEFE on a stable financial footing.”A multinational CMS team headed by Hamburg-based partner Dr Holger Kraft advised SEFE on all aspects of acquiring WIGA. In addition to extensive due diligence on the entire WIGA Group, including GASCADE and NEL, which are regulated under energy law, this work covered negotiation of the share purchase agreement and separate agreements with the shareholders of Wintershall Dea AG. Alongside negotiating the transaction agreements, the advice focused on safeguarding the transaction through several W&I insurance agreements, including negotiating the policies, and handling regulatory issues relating to gas network operation and other public-law matters. CMS Germany worked closely with the CMS law firms in the UK and Luxembourg, and with US law firm Faegre Drinker Biddle & Reath LLP. CMS previously advised the Federal Network Agency (BNetzA) and the Federal Ministry for Economic Affairs and Climate Action in 2022 and 2023 around their trusteeship over SEFE and its subsequent nationalisation by way of corporate actions. The instructions for this transaction followed on from that successful cooperation. About SEFE:As an integrated midstream energy company headquartered in Berlin, SEFE Securing Energy for Europe ensures the security of energy supply in Germany and Europe and is driving the green energy transformation. SEFE is active in trading & portfolio management, sales, transportation and storage of energy and has its strongest presence in Germany and the UK. SEFE employs around 1,500 people and supplies over 50,000 customers, in particular industrial customers and municipal utilities in Germany and seven other European markets. With a sales volume of around 200 TWh of power and gas, SEFE plays a central role in stability of the energy supply in Germany and Europe. SEFE is owned by the Federal Government of Germany. CMS Germany Dr Holger Kraft, Lead Partner Dr Jan Schepke, Partner Matthias Sethmann, Principal Counsel Dr Dirk Baukholt, Principal Coun­sel Char­lotte von der Heydt-von Kalckreuth, Counsel Dr Stefan Kühl, Senior Associate Dr Paul Kintrup, Senior Associate, all Corporate/M&A Dr Rolf Hempel, Partner Dr Friedrich von Burchard, Partner Nicole Köppen, Senior Associate, all Regulatory Dr Hermann Müller, Partner Dr Arno Görlitz, Associate, both Public Commercial Law Dr Martin Mohr, Partner Dr Olaf Thießen, Principal Counsel, both Tax Dr Alexandra Schluck-Amend, Partner Manuel Nann, Senior As­so­ci­ate Pit-Jo­hannes Wagner, Associate, all Restructuring Dr Andreas Hofelich, Partner Dr Mario Brungs, Counsel Dr Lena Pingen, Associate, all Em­ploy­ment/Pen­sions Dr Fritz von Hammerstein, Partner Jan Gröschel, Senior Associate Heike Weyer, Senior Associate, all Public Law Dr Stefan Voß, Partner Tamara Bux, Associate, both Real Estate Dr Sebastian Cording, Partner Martin Krause, Partner Dr Shaya Stender, Associate Joel Coché, Associate, all Commercial Dr Julia Runge, Principal Counsel, Finance Dr Michael Bauer, Part­ner Chris­toff Henrik Soltau, Partner Dr Robert Bodewig, Senior Associate Luisa Thomasberger, Associate, all Antitrust, Competition & Trade CMS UK Russel Hoare, Partner Sam De Silva, Part­ner Jean-Fran­cois Willems, Of Counsel Jennifer Louch, Senior As­so­ci­ate Max­imili­an Weaver, Senior Associate Louisa Mottaz, Associate CMS Luxembourg Angelique Eguether, Senior As­so­ci­ate Guil­laume Flagollet, Managing Associate Faegre Drinker Biddle & Reath LLP (USA) Mollie D. Sitkowski Inhouse at SEFE Securing Energy for Europe GmbH Dr Jörg Kammerer Jörn RimkePress Con­tact presse@cms-hs. com