Global law firm Clifford Chance has advised Pensionskasse Degussa VVaG on the sale of a stake in M 31 Beteiligungsgesellschaft mbH & Co. Energie KG (M 31) to the Versicherungskammer Group. M 31 holds 74.9 percent of the shares in the electricity grid operator Amprion, with RWE AG holding the remaining 25.1 percent.

Through this transaction, Versicherungskammer acquires an indirect 2.1 percent stake in the German electricity grid of Amprion. As part of the transaction, the buyer will also assume the equity contributions attributable to the stake for the years 2024 and 2025, thereby ensuring the continued growth of Amprion.

Amprion is one of the leading operators of electricity transmission lines in Germany and plays a crucial role in ensuring a reliable and sustainable energy supply. The company currently operates a network of 11,000 km in Germany.

The Clifford Chance team was led by partners Moritz Petersen (Corporate, Frankfurt) and Josef Brinkhaus (Tax & Insurance Regulatory Law, Frankfurt), and further included partner Annette Röhder and senior associate Natalie Hemberger (both Corporate, Frankfurt), partner Gregor Evenkamp (Global Financial Markets, Munich), associate Johannes Meyer (Tax, Frankfurt), partner Olaf Mertgen (Tax, Frankfurt) and counsel Cord von Mandelsloh (Tax, Düsseldorf). Additional support was provided by the Clifford Chance office in Luxembourg.