White & Case advises Fluxys on acquisition of Macquarie Asset Management stake in Open Grid Europe
2 min read
Global law firm White & Case LLP has advised Fluxys, an independent infrastructure group headquartered in Belgium, on the acquisition of Macquarie Asset Management's stake in Open Grid Europe (OGE), the largest transmission system operator in Germany.
Through the agreement with Macquarie Asset Management, Fluxys will acquire Macquarie European Infrastructure Fund 4's 23.6 percent stake in OGE, alongside a 0.5 percent stake owned by Halifax Regional Municipality Master Trust. The terms of the transaction have not been disclosed.
The closing of the transaction is expected by the end of March 2023 upon approval from the relevant regulatory authorities and other customary closing conditions.
With assets across Europe and in Latin America, Fluxys is active in gas transmission and storage and liquefied natural gas terminalling with 1,300 employees. Building on the unique assets of its infrastructure and commercial and technical expertise, Fluxys is committed to transporting hydrogen, biomethane or any other carbon-neutral energy carrier as well as CO2. The acquisition of the OGE stake strengthens Fluxys' strategic focus on supporting the energy transition.
OGE operates a pipeline network of around 12,000 kilometers and is one of the leading European transmission system operators. The company is headquartered in Essen, Germany and employs approximately 1,450 people.
The White & Case team which advised on the transaction was led by partners Hans-Georg Schulze, Jörg Kraffel (both Berlin) and Thomas Burmeister (Duesseldorf) and included partners Florian Degenhardt, Martin Munz, Hendrik Röger (all Hamburg), Caroline Sherrell (Sydney), Axel Schulz (Brussels) and Thomas Glauden (Luxembourg, Brussels), local partners Thilo Wienke (Dusseldorf) and Anna Dold (Frankfurt), counsel Kathrin Ahting, Christoph Arhold and Andreas van den Eikel (all Berlin) and associates Petra Kistner, Lisa Reichstein, Lisa Bär (all Duesseldorf), Fabian Mayer, Constantin Meimberg, Torben Harbeck (all Berlin), Martin Riederer (Hamburg), Sonja Sehr (Frankfurt) and Heidi Blomqvist (London).
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