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25/05/2007
The main committee of the city council of the City of Mannheim proposed in yesterday's special sitting that the city council sell a stake of 16.1 per cent in MVV Energie AG to RheinEnergie AG. The city council will probably give its approval in a special sitting on 12 June 2007. The City of Mannheim and RheinEnergie will also conclude a consortium agreement in order to further develop MVV Energie strategically and to safeguard the influence of the City of Mannheim on MVV:
During the transaction which was conducted in the form of a bidding procedure the City of Mannheim was advised by a team from the Stuttgart office of CMS Hasche Sigle led by Dr Jochen Lamb. Within just a few weeks it was possible to select four bidders from a large group of interested parties in a process with several stages; agreements ready for signature were then negotiated with these four parties. The City of Mannheim favoured RheinEnergie because it offered the most convincing combination of business concept, consortium agreement approach and purchase price. Synergy effects from the cooperation between the two companies can be expected principally in the areas of production, procurement and energy trade, charging, measuring and metering systems and energy services.
The planned alliance between the two municipal services groups is an important step towards a
national network for municipal services led by the local authorities; this will also have room for
other partners.
The City of Mannheim was also advised in this matter by the investment bank Dresdner
Kleinwort.
Lawyers involved:
Dr Jochen Lamb (lead partner)
Dr Antje Becker
Vladimir Cutura
Contact CMS Hasche Sigle:
Dr Jochen Lamb
Tel.: +49 (0) 711 / 9764-262
E-mail:
[email protected]
About CMS Hasche Sigle:
CMS Hasche Sigle is one of the leading German law firms with more than 480 lawyers. It covers the entire area of commercial law and provides legal advice to major German and international companies from a wide spectrum of industry. It has offices in Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels, Belgrade, Moscow and Shanghai.
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list of partners see www.cms-hs.com
CMS Hasche Sigle is a member of CMS, an alliance of leading independent European law firms. With over 595 partners, a total of 2,000 lawyers and tax consultants and around 4,200 support staff we advise our clients at commercial locations in 48 business centres in Europe and further afield on legal and tax issues.
In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance: CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS Bureau Francis Lefebvre (France), CMS Cameron McKenna LLP (Great Britain), CMS DeBacker (Belgium), CMS Derks Star Busmann (the Netherlands), CMS von Erlach Henrici (Switzerland) and CMS Reich-Rohrwig Hainz (Austria). CMS has 58 offices in 25 countries around the world.
For further information on CMS Hasche Sigle see www.cms-hs.com and on the CMS alliance see http://www.cmslegal.com.
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