Following the greenlight from the relevant authorities last month, the capital increase transaction at BayWa r.e. by Swiss investor Energy Infrastructure Partners (EIP) has been completed, together with BayWa r.e.’s registration as a Aktiengesellschaft (AG) or stock corporation.
The completion of the largest transaction in BayWa’s corporate history means EIP has taken a 49% share in BayWa r.e. with an equity contribution of €530 million. BayWa AG will remain the majority shareholder with a 51% share.
With completion, BayWa r.e. has changed its legal status from a GmbH, or limited liability company, to an Aktiengesellschaft (AG), or stock corporation. Matthias Taft, previously member of the BayWa AG Board of Management in charge of the Energy Segment, has now been appointed CEO (Vorstandsvorsitzender) of the new BayWa r.e. AG. Together with Günter Haug, COO, and Harald Wilbert CFO, they form the Management Board of BayWa r.e. AG. BayWa CEO Klaus Josef Lutz becomes Chairman of the Supervisory Board of BayWa r.e. AG.
“This capital injection will allow us to realize our ambitious growth plans at even greater pace by strengthening our projects, services and solutions businesses, and by becoming an Independent Power Producer (IPP), whereby we will retain and operate selected renewable energy assets”, commented Matthias Taft, CEO, BayWa r.e. AG.
“We have successfully achieved strong and continuous growth throughout our corporate history and with our new investor in place, we will be able to play an even more significant role in the global acceleration of the renewable energy transition that is urgently required to avert the worst effects of climate change.”