Hengeler Mueller advises managing board of PNE AG on investment agreement and takeover offer by Morgan Stanley Infrastructure Partners

15. October 2019

The managing board of PNE AG ("PNE") with the approval of the supervisory board signed an investment agreement with Photon Management GmbH ("Photon"). According to the provisions of the investor agreement Photon announced its intention to make a public takeover offer at a price of EUR 4.00 per PNE share in cash.

PNE group, comprising PNE AG and WKN GmbH, is a leading developer of wind energy projects. Photon is an indirect wholly-owned subsidiary of funds managed and advised by Morgan Stanley Infrastructure Inc. and part of Morgan Stanley's global private infrastructure investment platform, Morgan Stanley Infrastructure Partners.

Hengeler Mueller advises the PNE managing board on the transaction. The team is led by partners Oliver Rieckers and Rainer Krause and includes associates Stella Gardemann and Oda Christiane Goetzke (all Corporate/M&A, Düsseldorf).