Stuttgart – Stadtwerke München, Munich’s municipal utility company, and Bayerngas are forming a strategic partnership with British energy and services company Centrica plc (Centrica). Stadtwerke München and Bayerngas GmbH together with other Partners established Bayerngas Norge AS (Bayerngas Norge) in 2006 to secure a long-term supply of natural gas for Munich. Since then, the company has built up significant natural gas production capacity in the North Sea. To drive forward the successful development of this business, the Bayerngas Norge shareholders intend to work with Centrica in a strategic partnership going forward. This will involve merging Bayerngas Norge with Centrica’s oil and gas production business. Bayerngas Norge holds a number of licences with verified natural gas discoveries, but substantial investment is needed to develop these resources. Centrica’s high production levels mean that it has the required funds. The final decision on establishing the joint venture is subject to approval from the relevant bodies and authorities.
A CMS team headed by partner Dr Jochen Lamb advised Bayerngas on various aspects of the proposed strategic partnership, in particular the structuring and design of the joint Holding company with Stadtwerke München. This entity will hold the stake in the joint venture with Centrica.
Dr. Jochen Lamb, Lead Partner
Dr. Carolin Armbruster, Counsel
Martina Meier, Senior Associate, alle Gesellschaftsrecht/M&A
Dr. Rolf Hempel, Partner, Kartellrecht
Dr. Nicole Spreng, Leiterin Recht
Other parties involved/advisors to Stadtwerke München/Bayerngas GmbH
Other parties involved/advisors to Centrica
Slaughter and May; Hengeler Mueller