Orrick Advises STEAG on Sale of STEAG Power Minerals to EP Power Europe


Deutsch: Orrick berät STEAG bei Verkauf der STEAG Power Minerals an EP Power Europe

We advised German energy group STEAG on the sale of STEAG Power Minerals GmbH (SPM) to EP Power Europe, a.s. (EPPE), a subsidiary of Energetický a průmyslový holding, a.s. (EPH).

SPM is a European leader in the provision of the power plant by-products (in particular fly ash and FGD gypsum) and expendable blasting single use abrasives, helping clients to reduce their carbon footprints. SPM also provides broad range of waste management services.

Closing of the acquisition is subject to relevant approvals, including from the competition authorities.

STEAG supports its customers in every aspect of the power generation process. One of the largest generators of electricity in Germany, STEAG operates power plants in the Ruhr area, Saarland, and Saxony-Anhalt, as well as over 400 local power facilities for generating power from renewables and distributed generation facilities for industrial applications and heat supply. In 2019, STEAG achieved a turnover of €2,1 billion with a staff of more than 6,000.

Energetický a průmyslový holding (EPH) is a leading Central European energy group that owns and operates assets in the Czech Republic, the Slovak Republic, Germany, Italy, Ireland, the UK, France and Switzerland. As a vertically integrated energy utility, EPH covers the complete value chain.

The transaction was legally managed by Nina Hollender as head of STEAG’s legal department and Manfred Ziwey as project manager from the legal department.

STEAG was advised by an international Orrick team led by M&A and private equity partners Oliver Duys, Nikita Tkatchenko and Sven Greulich. They have previously advised STEAG on several transactions, including the acquisition of Gildemeister Energy Solutions from DMG Mori AG and the Krantz business unit from Caverion.

The team also included partners Carsten Bernauer, Daniel Wayte, Stefan Schultes-Schnitzlein, Lars Mesenbrink and André Zimmermann, and associates Johannes Rüberg, Julia Schmitz, Carolin Ostendorf, Onur Öztürk, Ben Boi Beetz, Julia Fabian, Stephen McNeill, Julius Schradin, Marianna Karapetyan and Robert Weinhold.