Hengeler Mueller advises innogy on merger of npower with SSE’s domestic retail operations in Great Britain
08. November 2017
innogy SE and SSE plc have agreed to merge innogy’s British retail business npower with SSE’s household energy and energy services business in Great Britain to form a major, independent British retail energy company. The combined retail company shall be listed on the premium segment of the London Stock Exchange. innogy will hold a minority stake of 34.4 per cent in the combined retail company. SSE plans to demerge its stake of 65.6 per cent to its shareholders upon completion of the transaction. The transaction is still subject to the approval of the Supervisory Board of innogy and of SSE’s shareholders, as well as approval by competition and regulatory authorities.
Hengeler Mueller is advising innogy on the transaction in an integrated team with Best Friends law firm Slaughter and May. The Hengeler Mueller team is led by partners Thomas Meurer and Andreas Austmann (both Corporate/M&A). Responsible for this transaction within innogy’s in-house legal department are Claudia Mayfeld (General Counsel), Tobias Bage (M&A), Gunnar Janson (Corporate) and Malte Abel (Competition). The team at Slaughter and May was led by Richard Smith and Tim Boxell.