August 29, 2023
Gibson, Dunn & Crutcher LLP is advising a group of lenders in relation to the financing aspects of the €2.6 billion EV acquisition of German energy utility company STEAG by Spanish investment management firm Asterion Industrial Partners.
Kommunale Beteiligungsgesellschaft mbH & Co. KG (KSBG) has sold its stake in STEAG GmbH, the Essen-based energy company, to Asterion Industrial Partners. The transaction values STEAG at an enterprise value of around €2.6 billion.
The Gibson, Dunn & Crutcher team advising the lenders was led by London-based Head of Private Equity in Europe and Global Co-Chair of Projects & Infrastructure Federico Fruhbeck, Banking and Finance Partner Sebastian Schoon and Of Counsel Alexander Klein in Frankfurt, as well as Finance, Energy and Projects & Infrastructure Partner Darko Adamovic and Of Counsel Alex Bluett in Paris.