Commerz Real Invests in Amprion: Strategic Stake Acquisition through Klimavest
Deal News | May 15, 2025 | Hogan Lovells
Commerz Real, through its infrastructure fund Klimavest, has acquired approximately 6 percent of the shares in M31 Beteiligungsgesellschaft, translating to an indirect stake of about 4.5 percent in Amprion. The majority shareholder of M31 remains rztliche Beteiligungsgesellschaft (AEBG), holding about 75 percent of Amprion’s shares, while RWE holds the remaining balance. Hogan Lovells provided extensive advisory services to Commerz Real, focusing on German and Luxembourg tax law, tax due diligence, transaction structuring, and acquisition documentation. The advisory team from Berlin and Luxembourg included Dr. Mathias Schnhaus and other key legal experts.
Sectors
- Infrastructure Investment
- Legal Advisory
- Energy
Geography
- Germany – Amprion is a German company, and the transaction involves significant components of German tax law.
- Luxembourg – Commerz Real's tax department is based in Luxembourg, where part of the tax advisory services was conducted.
Industry
- Infrastructure Investment – The article discusses an investment in infrastructure, specifically in Amprion, a key player in energy transmission.
- Legal Advisory – Hogan Lovells provided legal advice on tax law and transaction structuring, central to the deal.
- Energy – Amprion is involved in energy transmission, making the energy sector a relevant classification.
Financials
- 6 percent – Stake acquired by Commerz Real in M31 Beteiligungsgesellschaft, equating approximately to 4.5% in Amprion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Commerz Real | Buyer | Company | An asset manager that has acquired a stake in Amprion through its Klimavest fund. |
| Amprion | Target Company | Company | A German company involved in energy transmission. |
| rztliche Beteiligungsgesellschaft (AEBG) | Selling Company | Company | The largest shareholder in M31 Beteiligungsgesellschaft and key player in the transaction. |
| Hogan Lovells | Legal Advisor | Company | Provided comprehensive legal advice on tax law and transaction structuring for Commerz Real. |
| Dr. Mathias Schnhaus | Legal Advisor | Person | Partner at Hogan Lovells who led the advisory team for Commerz Real. |
| RWE | Shareholder | Company | Holds a stake in Amprion alongside M31 Beteiligungsgesellschaft. |