I-ADVISE advises STADTWERKE GIESSEN on the sale of electricity distribution grids
January 2019: I-ADVISE AG advised Stadtwerke Gießen AG (“Stadtwerke Gießen”) on the sale of the electricity distribution grids of the city of Selters and the local community of Maxsain (“electricity distribution grids”) to Energieversorgung Mittelrhein (“evm”).
Around 88 kilometres of power lines and an associated operating property were sold to evm and the transfer of the grid service employees working in the grid area was agreed.
Stadtwerke Giessen is the regional energy supplier for the city of Giessen and the region “Mittelhessen” regarding electricity, natural gas and heat as well as drinking water. In addition, it operates the public bus services and the public baths. Stadtwerke Giessen, a 100% subsidiary of the university town of Giessen, with around 800 employees, supplies more than 190,000 customers and generated sales revenues of more than €400 million in 2017.
I-ADVISE comprehensively supported Stadtwerke Giessen in the preparation and execution of the transaction, by evaluating the electricity distribution grids and the operating property, preparing a fairness opinion and accompanying the contract negotiations.