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Ksbg Completes Acquisition of 51% Stake in Evonik Steag from Evonik Industries and Rbv Verwaltungs for $861m – Deal Analysis from Globaldata

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KSBG Completes Acquisition of 51% Stake in
Evonik Steag from Evonik Industries and RBV
Verwaltungs for $861m – Deal Analysis from
GlobalData
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KSBG Completes Acquisition of 51% Stake in Evonik Steag from Evonik Industries and RBV Verwaltungs for $861m – Deal Analysis from GlobalData
Summary
Evonik Industries and RBV Verwaltungs have sold a 51% stake in Evonik Steag GmbH (Steag) to KSBG Beteiligungsgesellschaft GmbH & Co. KG (KSBG), a consortium comprising seven German municipal utilities. This acquisition transaction includes an agreement to provide KSBG with an option to acquire the remaining 49% stake from January 1, 2014 onwards. This deal will present opportunites for all three parties to expand their businesses in their respective sectors. The acquisition will enable Evonik Industries to strategically focus more on their core business activities. On the other hand, Steag as an enterprise will enhance its ability to provide power generation and distribution solutions, and to expand its market presence in Germany, along with increasing its power generation portfolio in Turkey, Colombia and the Philippines. The acquisition will also provide Steag with the ability to harness the growth...