NewsCMS advises Gelsenwasser on the sale of its Czech business to Accolade Group

Gelsenwasser AG has sold its Czech business in water supply and wastewater disposal, as well as heat and power generation, to the Accolade Group. Gelsenwasser is ending its successful involvement in the Czech region of Karlovy Vary (Carlsbad) after more than 25 years and will in future focus on its activities in Germany and Poland.

100 percent of the shares of Gelsenwasser Beteiligungen SE were sold. Gelsenwasser Beteiligungen SE, in turn, held 28.16 percent of the shares in CHEVAK Cheb a.s. and 50 percent each in TEREA Cheb s.r.o. and KMS KRASLICKÁ MĔSTSKÁ SPOLEČNOST s.r.o.. The transaction is currently awaiting approval from the competition authorities.

An international CMS team headed by Dr Marcel Hagemann and Katharina Mareike Franitza advised Gelsenwasser AG on all legal aspects of this transaction. CMS Czech Republic team was led by partner Lukas Janicek.

Gelsenwasser AG is a listed German infrastructure and utility company. Its activities include, in addition to water, gas and electricity supply and wastewater disposal, services for infrastructure, renewable energies, digital networks and neighborhood concepts.

The acquirer is the Czech Accolade Group, which operates numerous industry parks in the Czech Republic, Poland, Germany, and Slovakia. The stakes in the three Czech companies are Accolade’s first investment in the infrastructure sector.