International law firm Freshfields Bruckhaus Deringer has advised E.ON SE, one of the world’s largest investor-owned power and gas companies, on the disposal of a majority stake in its waste-burning unit E.ON Energy from Waste to Swedish private equity firm EQT.
Freshfields also advised E.ON on the creation of a newly formed joint venture with EQT Infrastructure II, a fund belonging to EQT, which will acquire 100 percent of the equity in E.ON Energy from Waste. E.ON will hold 49 percent in the joint venture, while EQT Infrastructure II will own the remainder.
The transaction is subject to antitrust approval and is expected to close in the first quarter of 2013.
This transaction will enable E.ON to reduce its involvement in waste incineration, which is not part of its core business. It will also help it to achieve more than €14bn of its target to generate €15bn through asset sales by the end of 2013.
Düsseldorf corporate partners Anselm Raddatz and Tobias Larisch led the Freshfields team advising E.ON. The firm also provided tax, employment, public law and energy law advice.
The transaction underlines the firm’s long-standing relationship with E.ON.
