Global law firm Clifford Chance has advised the Qatar Investment Authority as cornerstone investor in connection with RWE Aktiengesellschaft’s capital increase of approximately EUR 4 billion by way of an accelerated bookbuilding.
RWE Aktiengesellschaft announced an accelerated bookbuilding on 22 June 2026 selling new shares and treasury shares without subscription rights. The shares were offered via private placements in the United States to qualified institutional buyers in reliance on Rule 144A and to institutional investors outside the United States in reliance on Regulation S, each under the U.S. Securities Act of 1933, as amended. The capital increase was announced in connection with RWE’s acquisition of an additional stake in Amprion GmbH, one of Germany’s leading electricity transmission system operators. The Qatar Investment Authority was one of two cornerstone investors in the capital increase next to the Norwegian state fund Norges Bank.
The Clifford Chance team comprised lawyers from multiple practice areas and offices and was led by partners Axel Wittmann (Capital Markets, Frankfurt) and Samuel Frommelt (Private Equity, Munich) and supported by partners Mathias Elspaß (Corporate/Energy, Düsseldorf), Dominik Engl (Tax, Frankfurt), Dimitri Slobodenjuk (Antitrust, Düsseldorf) and Marcia Hook (Project Finance, Washington, D.C.) and counsels Henrik Gildehaus (Capital Markets, Frankfurt) and Anne Filzmoser (Antitrust, Düsseldorf), senior associates Felix Groppenbächer (Private Equity, Frankfurt), Laura-Isabell Dietz and Duy Tuong Huynh (both Corporate/Energy, Düsseldorf) and associates Lukas Tuschhoff (Corporate, Frankfurt) and Benedikt Behlert (Corporate/Energy, Düsseldorf) as well as transaction lawyers Lilli Neubauer (Capital Markets) and Jule Geiger (Tax, both Frankfurt).
