Baker McKenzie with ResInvest on the acquisition of Onyx Power

Baker McKenzie has advised the ResInvest Group on its acquisition of the Onyx Power Group from Riverstone Holdings. Completion of the transaction remains subject to customary regulatory approvals.

Onyx Power is a leading European energy provider specializing in the reliable and weather-independent generation of electricity and heat. The company operates six power plants in Germany and the Netherlands with a total net capacity of 1.65 GW. Its portfolio includes some of Europe’s most modern thermal power stations, combining high efficiency with low emissions. Key sites include Wilhelmshaven, Rotterdam, Zolling, and Farge near Bremen.

“With our experienced international team, we were able to support our client in strengthening its position in the European energy market,” commented Holger Engelkamp (PICTURED LEFT), Corporate/M&A Partner in Berlin.

“The transaction also enables our client to pursue important transformation projects for the German energy market,” added Dr. Claire Dietz-Polte (PICTURED RIGHT), Energy Partner in Berlin, who co-led the transaction alongside Engelkamp and jointly heads the firm’s German Energy and Infrastructure practice.

The ResInvest Group is an international trading and investment company supplying key raw materials to global markets. The firm has extensive experience in the energy sector and in operating conventional power plants across Europe. As a strategic investor, ResInvest supports Onyx Power’s strategy and its upcoming transformation initiatives as part of the broader energy transition.

Baker McKenzie’s Energy and Infrastructure team, part of the firm’s Corporate/M&A practice, regularly advises on domestic and cross-border transactions. Recent mandates include advising Sunoco on the acquisition of tank terminal operator Tanquid, Return on the purchase of four large-scale battery storage sites in Germany from BESSMART, J+P Batteries on Return’s strategic investment, and Terra One Climate Solutions on its framework agreement with S4 Energy. The Corporate/M&A practice has also recently advised AURELIUS on its acquisition of Landis+Gyr’s EMEA business, Knorr-Bremse on the acquisition of duagon Group, Cheyne Capital on the refinancing of Kaffee Partner, JD.com on the acquisition of Ceconomy, VINCI Energies on its acquisitions of R+S Group and Zimmer & Hälbig Group, Bristol Myers Squibb on the transfer of Juno Therapeutics to TQ Therapeutics, Georg Fischer on the acquisition of VAG Group, AURELIUS on the acquisition of Teijin Automotive Technologies, Centric Software on the acquisition of Contentserv Group, Fagron Group on the acquisition of Euro OTC & Audor Pharma, Berlin Packaging (a portfolio company of Oak Hill Capital Partners and the Canada Pension Plan Investment Board) on the acquisition of RIXIUS AG, and Instalco on its investment in FABRI AG.

Baker McKenzie team active in this deal:

Lead Partners:

• M&A/Energy: Holger Engelkamp (Partner, Berlin)
• Projects/Energy: Dr. Claire Dietz-Polte (Partner, Berlin)

Team:

• Corporate/M&A: Ben Boi Beetz (Senior Associate)
• Projects/Energy/Regulatory: Dr. Katharina Weiner (Partner, Düsseldorf); Dr. Janet Butler, Dr. Maximilian Voll (Counsel, Berlin); Nico Ruepp (Associate, Berlin); Stefanie Zenzen (Associate, Düsseldorf)
• Employment/Pensions: Dr. Matthias Köhler (Partner, Berlin); Dr. Verena Böhm (Counsel, Frankfurt); Isabell Guntermann (Associate, Berlin)
• Financing: Kathrin Marchant (Partner); Esther Kapern (Associate, both Frankfurt)
• IT/Data Protection: Florian Tannen (Partner); Daniel Wulle (Senior Associate); Clarissa Rach (Associate, all Munich); Anela Winzig (Associate, Frankfurt)
• Antitrust/FDI: Dr. Anika Schürmann (Partner); Dr. Florian Kotman (Counsel, both Düsseldorf); Anahita Thoms (Partner); Alexander Ehrle (Senior Associate, both Berlin)
• Netherlands: Mohammed Almarini (Partner); Laila Kouchi (Legal Director); Anne van den Dorpel (Associate); Anna van Bracht (Partner); Lois Knijpinga (Associate, Amsterdam)
• Belgium: Roel Meers (Partner); Arnaud Flamand (Associate, both Brussels)
• Additional support from lawyers in the Netherlands and Belgium.