Norton Rose Fulbright has advised subsidiaries of STRABAG and RAG on their joint acquisition of Geoenergie Bayern Projekt Garching a. d. Alz GmbH & Co. KG.
The company, which will be called Sielnos Energy, will combine STRABAG’s expertise in power station and plant construction with RAG’s experience in deep drilling technology, and mark their entry into Germany’s geothermal sector.
Sielnos will continue with the existing Garching project, a deep geothermal development in Bavaria. On-site works for the first phase of the project will start at the end of this year, with the plant expected to be operational in 2020. It will reach an installed capacity of up to 3.5 MWe (electricity) and 6.2 MWth (heat), meaning that annually up to 26 GWh electricity will be fed into the grid and up to GWh heat can be produced.
The firm advised on due diligence on the existing project as well as on the negotiation and documentation of project acquisition and its filing with merger control authorities.
The Norton Rose Fulbright team advising on the transaction was led by of counsel in Munich, Dr. Christian Bauer (Picture) and included: partners Dr. Klaus Bader and Dirk Trautmann; of counsel Sebastian Frech; associate Rima Dressler; and tax of counsel Dr. Frank Bayer. In Brussels partner Michael Jürgen Werner and associate Caroline Freisfeld provided advice on antitrust matters.
Involved fees earner: Klaus Bader – Norton Rose Fulbright; Sebastian Frech – Norton Rose Fulbright; Rima Dressler – Norton Rose Fulbright; Christian Bauer – Norton Rose Fulbright; Dirk Trautmann – Norton Rose Fulbright; Frank Bayer – Norton Rose Fulbright; Michael Jürgen Werner – Norton Rose Fulbright; Caroline Freisfeld – Norton Rose Fulbright;
Law Firms: Norton Rose Fulbright;