The energy group STEAG GmbH based in Essen has successfully refinanced the acquisition of two incineration plants through external funding.
In early/mid-2017 STEAG Waste to Energy GmbH acquired Vattenfall’s shares in the plants Thermische Abfallbehandlung Lauta GmbH & Co. oHG and IKW Rüdersdorf GmbH.
Clifford Chance provided legal advice to the banks concluding the loan agreement, Landesbank Hessen-Thüringen Girozentrale and KfW IPEX-Bank GmbH.
In 2016, STEAG generated roughly EUR 3.9 billion with around 6,100 employees. The energy supplier bundles its waste-to- energy business in its new subsidiary STEAG Waste to Energy GmbH.
The Clifford Chance team comprised partner Dr. Florian Mahler (picture), senior Associate Bahar Rahimyar and associate Deniz Sunay (all Banking and Finance) as well as partner Dr. Mathias Elspaß and associate Zaid Mansour (both Energy & Infrastructure).
Law Firms: Clifford Chance;
Clients: STEAG GmbH;