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07/05/2019
Stuttgart – EnBW Telekommunikation GmbH, a subsidiary of EnBW Energie Baden-Württemberg AG, has acquired Cologne-based Plusnet GmbH from IT service provider QSC AG. The purchase price is EUR 229 million. According to EnBW, the aim of the transaction is to strengthen its position in the Germany-wide telecommunications market and develop its role as an established infrastructure provider. Plusnet will continue to operate as a separate company at its existing locations, with EnBW Telekommunikation GmbH acting as the holding company. The transaction is currently awaiting approval from the competition authorities and is expected to close in the third quarter of 2019.
A CMS team headed by lead partner Dr Jochen Lamb and Dr Kai Wallisch advised EnBW on all legal aspects of the transaction. The energy provider is a longstanding client and regularly relies on the expertise of the Stuttgart-based team. Examples include advising on the investment by Canadian energy infrastructure company Enbridge in the “Hohe See” offshore wind farm project in the North Sea, which has a total output of 500 MW.
Headquartered in Karlsruhe, EnBW Energie Baden-Württemberg AG is one of the largest energy companies in Germany and also in Europe, employing some 21,000 people. It claims to supply around 5.5 million customers with electricity, gas and water, as well as energy solutions and energy-related services. A few months ago, EnBW brought together its telecom activities in holding company EnBW Telekommunikation GmbH.
Plusnet GmbH, which is headquartered in Cologne, has some 25,000 business customers in Germany, according to its own data, and operates its own nationwide voice and data network. In 2018, the company had around 400 employees and generated sales of over EUR 200 million.
Dr Jochen Lamb, Lead Partner
Dr Kai Wallisch, Counsel
Dr Alexandra Schluck-Amend, Partner
Martina Meier-Grom, Senior Associate,
Birgit Schlemmer, Associate,
Josefine Wolff, Associate, all Corporate / M&A
Dr Marc Seibold, Partner, Banking & Finance
Florian Block, Partner, Commercial
Michaela von Voß, Senior Associate, TMC
Natalie Fahrner, Corporate/M&A
Philip Hunzinger, Patent Management
Sarah Haghdoust, Data Protection
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