CMS advises European Energy Exchange on 50% capital increase

Leipzig – European Energy Exchange AG (EEX) has completed a 50% capital increase to strengthen its capital base. To achieve this, EEX issued 20,025,000 new no-par value shares as non-voting preference shares, at a subscription price of EUR 7.76 each. The company generated gross proceeds from the transaction of more than EUR 150 million, which is earmarked for driving forward its growth strategy.

A CMS team headed by partners Dr Hilke Herchen, Dr Jörg Lips and Dr Jochen Lux advised European Energy Exchange AG on all legal aspects of the capital increase.

Headquartered in Leipzig, European Energy Exchange AG was created in 2002 through a merger of the German power exchanges in Frankfurt and Leipzig. Since then it has evolved from a local power exchange into an energy trading platform with European reach. Contracts for electric power, coal and emission allowances as well as freight and agricultural products are now traded on EEX, or registered for clearing. The company is part of the EEX Group, which also includes the trading platforms EPEX SPOT, Powernext, Cleartrade Exchange (CLTX), Gaspoint Nordic and Power Exchange Central Europe (PXE).

CMS Hasche Sigle

Dr Hilke Herchen
Dr Jörg Lips
Dr Jochen Lux, all Partners
Peter Ollesch
Dr Anja Wiedemann, both Associates, all Stock Corporation Law

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