Linklaters advises Macquarie on selling its stake in Open Grid Europe
Linklaters has advised Macquarie European Infrastructure Fund 4 on the sale of Open Grid Europe stake. The participation has been purchased by Fluxys.
With this agreement, Macquarie European Infrastructure Fund 4 will sell its 23.6 per cent stake in OGE, alongside a 0.5 per cent stake owned by Halifax Regional Municipality Master Trust, to Fluxys.
OGE is the owner and operator of a regulated natural gas transmission system in Germany, with a 12,000-kilometre gas pipeline network transporting gas throughout Germany and to neighbouring European countries. OGE is playing a critical role in advancing the energy transition, and through upgrades to its infrastructure, OGE aims to create a nationwide hydrogen and CO2 network.
As a leading independent infrastructure group, Fluxys is active across Europe and in Latin America and pursues the goal/ aims to be an essential infrastructure partner for accelerating the energy transition.
The transaction is expected to reach financial close in March 2023, subject to the receipt of regulatory approvals and satisfaction of customary closing conditions.
In 2012, Linklaters had already advised a consortium led by Macquarie on the acquisition of OGE.
The Linklaters team was led by German Head of Private Equity Dr. Ralph Drebes from Frankfurt.
Further members of the cross-practice team are Michal Hlásek (Partner, Banking, Frankfurt), Matthew Devey (Partner, Employment, Frankfurt), Christoph Barth (Partner, Antitrust & Foreign Investment, Düsseldorf), Oliver Rosenberg (Partner, Tax, Düsseldorf), Christopher Bremme (Of-Counsel, M&A, Energy, Berlin), Ann-Catherine Hoffmann (Counsel, Corporate/M&A, Frankfurt), Julia Sack (Counsel, M&A/Energy, Berlin), Dr. Julia Rupp (Managing Associate, Corporate/M&A, Frankfurt), Julius Gerbaulet (Associate, Corporate/M&A, Frankfurt), Amalia Halvatsioti (Associate, Energy, Berlin). The offices of Linklaters in Frankfurt, Düsseldorf, Berlin and Luxembourg were involved in the transaction.
