Berlin, 6 September 2011
Stadtwerke Jena is selling 20% of the shares of Stadtwerke Energie Jena-Pößneck to Thüga Group as of January 1st, 2012. Stadtwerke Jena will at first acquire the 10% participations held by each of the existing co-shareholders E.ON Thüringer Energie AG and STEAG New Energies GmbH and will resell these participations thereafter. Basis for the acquisition of the shares held by the existing co-shareholders is a consortium agreement. As per 2012, subject to the approval of the Federal Cartel Office, the shares of Stadtwerke Energie are composed of 64,1% held by the city of Jena (indirectly via the Stadtwerke Jena GmbH), 5,9% held by city of Pößneck (indirectly via the Stadtmarketing Pößneck GmbH), 20% held by Thüga Group and 10% held by Erdgasversorgungsgesellschaft Thüringen-Sachsen mbH. RAUE LLP advised Stadtwerke Jena throughout the acquisition/sales process, especially in respect of corporate law questions and in connection with the share purchase agreements.
 

 

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Berlin, 10 August 2011
The European Agency for the Cooperation of Energy Regulators (ACER), which is operational since May 2011, has adopted Framework Guidelines on Capacity Allocation Mechanisms for the European Gas Transmission Network. The guidelines are intended to ensure an efficient and competition-enhancing allocation of network capacity for cross-border gas transports.
During a consultation process between national energy regulators and ACER, Raue LLP was instructed by the national regulators of Austria, France, Spain, the Netherlands, the United Kingdom, and Germany to conduct a legal study regarding the design and legality of the so-called sunset clause which is part of the guidelines. The sunset clause stipulates that existing gas transport and supply contracts must be adjusted to the principle of bundling introduced by the guidelines. Due to the bundling principle, gas transport capacities on both sides of a border between member states may only be allocated jointly, instead of separately as previously practised. This measure enhances the integration of European gas markets and cross-border trading. The legal study conducted by Raue LLP has been published on the ACER website.
http://www.acer.europa.eu/portal/page/portal/ACER_HOME/Stakeholder_involvement/Public_consultatations/Closed_Public_Consultations/PC-02_FG_Gas_CAM/Evaluation_of_responses

 

 

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Berlin, 29 June 2011
Raue LLP has advised Berlin-based music technology company Native Instruments GmbH on a restructuring of its shareholder structure through a management and owner’s buy-out. The share purchase from a financial investor was financed by IKB and BayernLB Private Equity. The financing volume has not been disclosed. 

 

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Berlin, 22 June 2011 
Raue LLP has advised the family of renowned curator Harry Szeemann (1933 – 2005) on the sale of his archive to the Los Angeles-based Getty Research Institute. Szeemann was one of the most important curators in the second half of the 20th century, and has put his mark on the international exhibition landscape. He has, inter alia, curated exhibitions like Documenta 5 (1972) as well as two Venice Biennales (1999 and 2001). In a period of over 50 years, Szeemann has assembled an unparalleled archive which documents his work and his correspondence with a wide array of artists. The Getty Research Institute will provide for the accessibility of the archive for the public. 

 

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Berlin, 17 June 2011
Raue LLP has advised private equity fund Paragon Secondary Partners LP on the sale of three portfolio companies to Vision Capital and Rubicon Partners.

The portfolio companies are ABL Technic, the European market leader for paint stripping management in industry facilities, as well as Metallwarenfabrik Gemmingen (MG) and Switzerland-based Swisshaus. MG is a machinery manufacturer with two business units: Gensets, a niche manufacturer of electricity generators, and Motor Components, producing customized pressure castings and stampings for electric motors. Swisshaus is a leading supplier of family homes in Switzerland. The three companies produced combined total revenues of ca. 200 million Euro in 2010. The purchase price remains confidential.

Prof. Dr. Andreas Nelle of Raue LLP had already advised Paragon Partners on the creation of the Paragon Secondary Partners fund, as well as on the purchase of portfolio companies MG and Swisshaus. 

 

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