Author Archives: c-wettich

The Spanish investment company Asterion Industrial Partners acquires the Essen-based energy producer Steag. For its entry into the German market, 2.6 billion euros flow to the Kommunale Beteiligungsgesellschaft (KSBG). This consists of a total of six Ruhr area municipal utilities which Steag had acquired from Evonik. The deal is expected to be completed by the end of the year. […]

The management and other bodies of Steag sought advice on their duties from Berner Fleck Wettich when the transaction process began in the spring.

Berner Fleck Wettich (Düsseldorf): Dr. Christian Nienkemper (Federführung), Dr. Carsten Wettich; Associate: Christina Peters (alle Corporate)

To read the full announcement, please click here (in German).

Kommunale Beteiligungsgesellschaft mbH & Co. KG (KSBG) has announced that it has signed an agreement with Asterion Industrial Partners to acquire STEAG GmbH (“STEAG”). The transaction volume amounts to approximately 2.6 billion euros. The sale process is expected to be completed by December 2023.

STEAG comprises the two business units STEAG Power GmbH and Iqony GmbH. STEAG Power operates hard coal-fired power plants at six locations in Germany. Their share of total electricity generation in Germany is about five percent. Iqony offers solutions for decarbonization, decentralization and digitalization of energy supply. Iqony focuses on renewable energies and bridging technologies that can also be used in a climate-neutral way in the future. In addition to solar, wind, and geothermal energy, the portfolio also includes hydrogen solutions, storage technologies, engineering services, and modern gas-fired power plants that will be climate-neutral in the future through the use of hydrogen.

ASTERION INDUSTRIAL PARTNERS is the leading infrastructure fund in Spain. As one of the largest infrastructure-focused funds in Europe, the company manages assets of around 5 billion euros.

Berner Fleck Wettich advised STEAG and its corporate bodies on their rights and obligations under company law and corporate governance in connection with the transaction.

Click here for the full article (in German).

The Handelsblatt & Best Lawyers have awarded Berner Fleck Wettich again in three categories in their latest edition “Germany’s Best Lawyers 2023”. The ranking contains an overview of the law firms of the year 2023 in various fields of law and the lawyers particularly recommended this year.

As in previous years, all four partners of Berner Fleck Wettich are recommended in the current ranking for the following areas of law:

– Corporate Governance & Compliance: Dr. Carsten Wettich and Dr. Olaf Berner

– Mergers and acquisitions: Dr. Christian Nienkemper

– Corporate law: Dr. Olaf Berner, Dr. Thilo Fleck and Dr. Christian Nienkemper

For the 15th time already, the Handelsblatt has published the list “Die besten Anwälte und Kanzleien Deutschlands 2023” (The Best Lawyers of Germany 2023), based on research by the US publishing house Best Lawyers. Based on a peer-to-peer survey, Best Lawyers has identified Germany’s most renowned lawyers in various fields of law.

The complete results can be found here (in German): Germany’s best lawyers 2023.

In its current issue, WirtschaftsWoche has again named Berner Fleck Wettich as a top law firm for corporate law 2023 and for M&A 2023. At the same time, Dr Olaf Berner, Dr Thilo Fleck and Dr Carsten Wettich have been included in the list of Germany’s most renowned lawyers for corporate law. Dr Olaf Berner and Dr Christian Nienkemper have also been included in the list of Germany’s most renowned lawyers for M&A.

For the selection of the best German lawyers in corporate law, the Handelsblatt Research Institute (HRI) asked more than 5,600 lawyers from 292 law firms about their most renowned colleagues in corporate law.

The building materials supplier Schöck AG joins the Düsseldorf-based software startup FoxBase as a new investor and invests around 2.5 million euros as part of an equity financing.

Foxbase has set out to revolutionize the sales process for products that require explanation. To this end, the young company has developed a software platform that radically accelerates the B2B sales process. The bundling of expertise with Schöck AG as a partner and the investment boost are intended to support FoxBase on its way to becoming the global standard solution for direct-to-customer sales digitization in the B2B sector and to establish it as a leading provider. Together, FoxBase and Schöck want to identify opportunities for digital solutions in the sale of products requiring explanation and connect the interfaces to a digital customer journey. FoxBase intends to use the capital to invest in the further development of the software platform, in staff development and in the marketing of the software.

Berner Fleck Wettich comprehensively advised FoxBase on the entry of Schöck AG.

Click here for the full article (in German).

In the course of the realignment, the GERRY WEBER Group will focus on its core competencies: Further development of its brands and brand communication, design and development of successful collections, and distribution of the brands.

In the area of sourcing, the company intends to strengthen its position through an exclusive strategic cooperation with Techno Design GmbH as a strong global partner from June 01, 2023. Techno Design is known for its innovative and vertically integrated end-to-end sourcing solutions. The company is headquartered in Düsseldorf, Germany, and has sourcing offices in relevant markets worldwide.

Techno Design will take over the existing sourcing activities of the GERRY WEBER Group and cover all global sourcing needs.

Berner Fleck Wettich provided comprehensive advice to Techno Design on the strategic partnership with Gerry Weber. Techno Design was advised on insolvency law issues by the law firm Noerr, and on antitrust law issues by the Düsseldorf antitrust boutique ROCAN.

Click here for the full article (in German).

Berner Fleck Wettich has been again awarded the highest rating of four stars (Tier 1) for corporate law and M&A by brand eins as one of the best commercial law firms in Germany 2023.

The list is based on a survey among lawyers (colleagues survey) and in-house lawyers (clients survey) for a total of 24 legal fields.

The Hamburg-based cleantech start-up 1Komma5 Grad continues to buy stakes in innovative craft businesses. Founded only 18 months ago, the fast-growing company most recently acquired Ruoff Energietechnik.

Through the acquisitions, 1Komma5 Grad aims to become Europe’s market-leading provider for the installation of CO2-neutral energy systems in the residential sector. The target companies are mostly owner-operated installation companies that specialise in the installation of solar energy systems, charging infrastructure and heat pumps for private households. 1Komma5 Grad offers them access to its digital platform, central services, growth capital and a return share for their participation.

Advisor EnergieExpert Rhein-Ruhr – […] Much better known, however, is the corporate boutique Berner Fleck Wettich from Düsseldorf. They negotiated for EnergieExpert Rhein-Ruhr with the Schmidt-Jortzig partners Rollin and Petersen

Berner Fleck Wettich (Düsseldorf): Dr. Christian Nienkemper

To read the full announcement, please click here (in German).

Adler breathes a sigh of relief: The company has found a solution with a core group of bondholders that could secure financing until mid-2025 and avert the threat of insolvency. For this concession, however, the real estate giant is paying the price of tougher conditions for the current bonds and high interest rates for a new loan. […]

According to experts, with a volume of 4.5 billion euros, this is currently the largest restructuring in all of Europe.

Advisors to the Executive Board and Supervisory Board of Adler Real Estate
Berner Fleck Wettich (Düsseldorf): Dr. Christian Nienkemper (Lead), Dr. Carsten Wettich, Prof. Dr. Sabine Otte, Associate: Christina Peters (all Corporate)

To read the full announcement, please click here (in German).