The preconditions for the partnership already announced between juwi AG and MVV Energie AG have now been met. The Federal Cartel Office approved the planned investment in mid-November 2014.
The banks and financing partners involved have now approved the new financing concept at juwi AG. New loan agreements have been signed by more than 40 financial institutions. The agreements have a volume of around € 300 million and a four-year term. MVV Energie will contribute € 99.4 million to equity at juwi AG and thereby take over a 50.1 per cent stake in the company. juwi’s two founders, Fred Jung and Matthias Willenbacher, will in future hold a combined 49.9 per cent stake in juwi AG. Once the transaction is completed, MVV Energie will appoint the Chief Financial Officer at juwi AG. Fred Jung and Matthias Willenbacher, previously the sole owners, will remain in the company’s management as CEOs of the juwi Group. Stephan Hansen, responsible for the company’s international activities, will also remain on juwi’s Management Board. The Supervisory Board will in future consist of equal numbers of representatives from MVV Energie and the previous sole owners.