Global law firm Dentons has advised on the acquisition of SFW ENERGIA, a company owned by Iqony, a 100 per cent subsidiary of the German utility company STEAG, by the Remondis Group, a market leader in waste processing and recycling.
The transaction comprised the sale of 100 per cent of the shares as well as the transfer of several intercompany loans and the strengthening of SFW Energia’s equity basis.
SFW ENERGIA is a Polish energy provider, operating district heating, cooling and power generation plants. The deal covered companies controlling power generation plants in more than a dozen locations in Poland, including Gliwice, Gorlice, Iława, Mielec, Zduńska Wola and Żory. The acquisition received merger control clearance.
“For us, this is an important step in the development of REMONDIS in Poland,” said Marek Gębski, Member of the Management Board of REMONIDS. “For many years, we have been investing in technologies that contribute to decarbonisation – reducing carbon emissions and replacing fossil fuels with alternative energy sources. In this regard, we are increasingly bold in our focus on photovoltaics and we are a leader among water, recycling and services companies in the category of low-emission vehicles, whose fleet is gradually increasing year on year with us. We are aware that the acquisition of the SFW Energia Group is another opportunity to provide low-carbon heat and energy to many residents and industrial clients of the cities where our plants are located, but also a mission of sorts, especially in these times of galloping energy and fuel prices.”
With its planned investments in the district heating sector in Poland, REMONDIS wants to strengthen its cooperation with public and private customers. The company intends to make a strong commitment to reducing greenhouse gas emissions and is therefore betting on a transformation resulting in the production of environmentally friendly heat and power. All for the fastest achievement of the key objectives of a closed-loop economy.
