Linklaters has advised Macquarie European Infrastructure Fund 4 on the sale of Energie Steiermark stake to the Provincial Government of Styria for a purchase price of €525 million.
Energie Steiermark is one of the largest energy distribution and service companies in Austria, with subsidiaries in Slovenia, Czech Republic, France, and Germany. Headquartered in the province of Styria, Energie Steiermark operates a 31,300-kilometre electricity grid network and a natural gas supply network of around 4,200-kilometres. In addition, the business provides district heating, e-mobility services, and electricity generation from renewable energy sources, including wind, hydropower, solar, and biomass plants.
The business aims to significantly expand Energie Steiermark’s role for clean energy within the grid through additional investment in smart grid infrastructure alongside the deployment of new wind, solar and hydropower capacity.
The transaction is expected to reach financial close in the first quarter of 2023.
In 2015, Linklaters had already advised Macquarie on the investment in Energie Steiermark, thus contributing to financial sponsor deals that aim to successfully shape the energy transition.
The Linklaters team was led by Ann-Catherine Hoffmann (Counsel, Corporate/M&A) and German head of private equity Ralph Drebes from Frankfurt.
Further members of the international cross-practice team are Christoph Barth (Partner, Antitrust & Foreign Investment, Düsseldorf), Jan Endler (Partner, Corporate/M&A, Berlin), Nikita Selivanov (Counsel, Corporate/M&A, Frankfurt), Johannes Porsch (Managing Associate, Corporate/M&A, Frankfurt), Amy Barker (Managing Associate, Corporate/M&A, London), Cyrielle Nis (Managing Associate, Tax, Luxemburg), Julius Gerbaulet (Associate, Corporate/M&A, Frankfurt), Florence Forster (Consultant, Corporate/M&A, Frankfurt), Anna Tamara Castaner Coll (Associate, Corporate/M&A, Frankfurt), Mareike Mast (Associate, Antitrust & Foreign Investment, Düsseldorf), Anna Romanova (Associate, Corporate/M&A, Luxembourg).
