Hengeler Mueller advises NAFTA on acquisition of underground natural gas storage facilities in Germany from DEA
07. January 2019
The Slovak NAFTA a.s. (“NAFTA”), part of the Czech EPH Group, has completed the acquisition of three underground gas storage facilities from DEA Deutsche Erdoel AG (“DEA”). The three facilities with a total storage capacity of 1.8 billion cubic meters are located in the Bavarian Inzenham-West, Wolfersberg and Breitbrunn/Eggstätt. The underground facilities are dedicated to the storage of imported natural gas during the summer months, which can be withdrawn in winter if required.
NAFTA and DEA had already signed an agreement on the acquisition of the business with over 60 employees in March 2018. The business is part of Schechen based DEA Speicher Holding GmbH & Co. KG. As part of the transaction, NAFTA has also acquired the minority share of Storengy Deutschland GmbH in the storage facility Breitbrunn/Eggstätt. The parties have agreed not to disclose the financial conditions of both transactions.
Hengeler Mueller advised NAFTA on the transaction. Led by partner Daniel Wiegand (Corporate/M&A), the Hengeler Mueller team included partners Matthias Scheifele (Tax) (both Munich), Thorsten Mäger (Antitrust) and Dirk Uwer (Public Law) (both Düsseldorf), counsels Andreas Breier (Berlin), Jörg Meinzenbach (Düsseldorf) (both Energy Law), Gunther Wagner (Tax, Munich) and Eckbert Müller (Employment, Frankfurt) as well as associates Achim Spengler (Corporate/M&A, Munich), Thomas Ruthemeyer (Public Law), Anja Balitzki (Antitrust) (both Düsseldorf), Tobias Schwab (Tax, Munich) and Henning Hilke (Financing, Frankfurt).