The Restructuring of STEAG
KSBG Kommunale Beteiligungsgesellschaft GmbH & Co. KG ("KSBG") has undergone financial restructuring, including an amend and extend of its term loan facilities and the reorganisation of the financing structure of its subsidiary STEAG.
Advisers on the transaction:
Wellensiek
Rosin Büdenbender
Iuslake
Görg
Latham & Watkins
Noerr
Dentons
Brinkmann & Partner
Milbank
KSBG has been established by six municipal utilities of the Rhine-Ruhr area as an acquisition and financing vehicle for STEAG, a leading energy producer and energy services provider with over 6,000 employees and 7,200 megawatts of installed capacity. STEAG Group, having for decades been one of the leading German operators in the sector of hard coal-fired power generation, is in the process of repositioning itself and focusing on business areas and markets with growth potential, in particular renewable energies.
Dr Achim Compes, Partner at Görg, was involved in the transaction as Corporate, Corporate Financing and Energy legal adviser of the shareholders of the KSBG/STEAG Group.
Further areas of legal advice included:
- Restructuring - Martin Stockhausen, Görg
- Corporate - Christoph Niemeyer, Görg
- Tax - Adalbert Rödding, Görg
- Financing - Thomas Lange, Görg
- Public Procurement - Kersten Wagner-Cardenal, Görg
The shareholder Stadtwerke Dortmund AG was advised by Freshfields (Lars Westphal, Konrad Schott and Hauke Sattler. Görg closely cooperated with Freshfields.
