CMS has successfully advised Eesti Gaas AS on the acquisition of 100% of the shares in EWE Polska sp. z o.o., a major player in the Polish gas and electricity market, from EWE Aktiengesellschaft. The transaction also includes the indirect acquisition of 100% of shares in the EWE Group companies: EWE Przesył sp. z o.o. and EWE Energia sp. z o.o. The total value of the transaction is EUR 120m.
Eesti Gaas, the largest privately owned energy company in the Baltic region and Finland, offers its customers natural gas in various forms, biomethane, and green energy from photovoltaic plants. Operating under the Elenger brand, Eesti Gaas serves over 400,000 customers across the Baltic States, Finland, and Poland.
EWE Polska is the second largest private network operator in Poland and provides natural gas and electricity through its extensive natural gas distribution network of more than 2,000km, serving more than 25,000 customers. The EWE Group's total sales of energy and gaseous fuels in Poland amounted to 1.2 TWh in 2023.
This strategic acquisition allows Eesti Gaas to expand its presence in the Central European energy market.
The CMS team provided a comprehensive suite of legal services, guiding Eesti Gaas through complex due diligence, negotiations, securing transaction insurance and competition clearance filing.
The completion of the transaction is subject to approval from the Polish Competition Authority (Urząd Ochrony Konkurencji i Konsumentów) and corporate approval from EWE AG’s Supervisory Board (Aufsichtsrat).
The CMS team was led by partners Mateusz Stępień (Corporate/M&A) and Łukasz Szatkowski (Energy and Infrastructure), and included Olga Czyżycka-Szczygieł, Joanna Białoskórska, Tomasz Piotrowski (Corporate/M&A); and Adam Kędziora and Alicja Smyklińska (Energy and Infrastructure).
