CMS advises Axpo Holding on the sale of its 12.69% stake in Repower
Axpo Holding has announced the disposal with immediate effect of its 12.69% share in Repower to current anchor shareholders EKZ, UBS Clean Energy Infrastructure Switzerland and the Canton of Graubünden. The sale is consistent with Axpo’s strategy of focussing on renewable energy growth initiatives in Switzerland and abroad.
Around eighteen months ago, Axpo set the ambitious goal of increasing its onshore wind and solar installed capacity by 3 GW and 10 GW respectively by 2030, on an international scale. While the company will retain ownership of some of these newly developed plants, the majority will be sold to other investors. The company is also planning to invest In Switzerland, through its subsidiary CKW, up to CHF 1 billion in photovoltaic, wind power, biomass, hydropower and other technologies within the country’s regulatory and financial framework. The company remains the largest producer of electricity from hydropower in Switzerland.
With this plans in mind, Axpo continuously reviews options to divest non-strategic businesses and shareholdings, enabling it to redeploy the resulting financial resources in growth areas. In accordance with this strategy, Axpo has now disposed its 12.69 % minority shareholding in Repower and all parties have agreed not to disclose the purchase price.
A team from CMS Switzerland, led by partner Stephan Werlen (corporate/ m&a, pictured), has advised Axpo on all legal matters of the transaction. The team also included Pascal Stocker (associate, corporate / m&a).