Negotiations on the cooperation between the companies started in summer 2021. The Federal Cartel Office has already cleared the concentration in December 2023 and it has now been implemented under company law.

The details of the cooperation include the hive-down of enwor’s assets to STAWAG and the transfer of the grid infrastructure management, particularly the electricity, gas and water grids, to Regionetz as the central infrastructure provider. STAWAG will take over from enwor as supplier of the residents in the supply area. 

The transaction is carried out in stages: In a first step, the operation of the grid infrastructure and the associated personnel will be transferred to Regionetz. Afterwards, enwor will transfer the remaining business operations to STAWAG by hiving down its assets. Thus, enwor will obtain a share of 25.1% in STAWAG. The different stages ensure that the shareholders of both enwor and STAWAG – all of which are local authorities – benefit from the transaction. In the coming months, the cooperation of the three companies involved will be further advanced with the ongoing support of BBH.

“A convincing overall concept that offers benefits for all stakeholders in the medium and long term is the linchpin of any transaction,” says BBH partner, public auditor and tax advisor Thomas Straßer. 

Moreover, lawyer, tax advisor and BBH partner Oliver K. Eifertinger is confident that “this cooperation will be a viable solution for ensuring a future-proof energy and water supply in the long term.”

Prof. Dr. Axel Thomas, chair of enwor’s board of directors states: “For the planning and implementation of this cooperation, which is of tremendous importance to all stakeholders, we could not have found a better partner than the adept law and business specialists of BBH. I am looking forward to continuing our collaboration.”

With more than 700 employees, 7,000 clients and 7 offices, the BBH group is a leading provider of advisory services to energy and infrastructure companies and their customers. Energy and supply companies, particularly public utilities, municipalities and local authorities, industrial companies and international groups are among its core clients. The BBH group assists these and many other companies and organisations with legal, business and strategic advice.

Contact:                                                                    

Prof. Dr. Ines Zenke                                              
Rechtsanwältin/Lawyer, Partner                                
Phone +49 (0)30 611 28 40 - 179                                          
ines.zenke@bbh-online.de                

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