Luther advises Norwegian Statkraft on investment in enQu
Dusseldorf – Statkraft, the energy producer from Norway, has acquired a 50 percent stake in the German energy supplier enQu. Statkraft had law firm Luther provide legal support for the transaction. The full-service law firm has profound expertise in transactions in the energy sector: E.g. in January 2017, Luther supported the Dutch Eneco in its investment in the green energy company Lichtblick.
EnQu is a nationwide provider for private and commercial customers who has made a name for themselves with digital performance and online service. Statkraft, Europe's largest producer of renewable energies, has been active in Germany almost exclusively in the production of energy and in energy trading. Statkraft's investment in enQu is an entry into the German private customer market.
The aim of the partnership is to grow together in the German retail market and to supply not only small consumers but also larger commercial consumers with electricity and gas in the future. Both partners are also planning to offer decentralised energy supply services, such as solar modules, energy storage or e-mobility.
The transaction is subject to approval by the relevant antitrust authorities. The parties have agreed not to disclose the purchase price.
Statkraft is the world leader in hydropower and Europe's largest producer of renewable energy. The Group generates electricity from water, wind, solar and gas, supplies district heating and is a major player in energy trading worldwide. Statkraft employs 3,800 people in more than 16 countries.
enQu GmbH supplies energy to many thousands of household and commercial customers throughout Germany. As a long-standing energy supplier with locations in Kiel and Berlin, enQu is aimed at customers who attach great importance to an inexpensive energy supply with reliable service and constant prices.
Luther, Mergers & Acquisitions/Corporate Law: Dr. Michael Krömker, MBA (Lead Partner, Dusseldorf), Fabian Mimberg, LL. M., Johann Brehm, LL. M. (both Cologne)
Luther, Antitrust and regulatory law: Dr. Holger Stappert (Partner), Franz-Rudolf Groß, LL. M. (Counsel, both Dusseldorf)
Luther, Tax Law: Nicole Fröhlich (Partner), Ramona Hubracht, LL. M. (both Frankfurt am Main)