Osborne Clarke advised the Darmstädter bauverein AG on tenancy, energy and corporate law in the establishment of its new joint venture - bauTega GmbH.
bauTega is a company founded by the two municipal companies bauverein AG and ENTEGA AG, which brings together itsr previous expertise and experience in the field of building technology and heat supply.
Through the merger, the two companies aim to promote the regional economy, since elementary services in the value chain come from companies in the region, as well as to reduce costs on the tenant side. The latter is to be achieved by increasing energy efficiency, for example by installing block-type thermal power stations, central heating systems or photovoltaic systems in or on the properties of bauverein AG. At the same time, an improved climate balance is created and the climate is sustainably protected. The bauverein AG portfolio consists of around 17,000 apartments in 1,500 buildings, the majority of which are located in Darmstadt.
Sybille Wegerich, commercial director of bauverein AG, commented on the cooperative: "With Osborne Clarke, we were fortunate to find not only lawyers with specialist knowledge of corporate, energy and real estate law, but also a team that could genuinely tackle all aspects of sector coupling in an integrated way. Osborne Clarke has also taken on project management tasks for us. Thinking ahead and thinking together have distinguished the legal advice on this project. As a client, I felt confident about our (new) way of thinking together."
An Osborne Clarke team including Dr. Alexander Dlouhy, Jürgen Ehrlichmann and Dr. Marleen Rheker advised the bauverein on issues relating to tenancy, energy and corporate law of the new joint venture as part of the merger. This underlines the success of the strategic product development in the housing industry and the occupation of the interfaces to energy law as well as topics in the area of Smart Cities.
The ENTEGA Group supported the ENTEGA in-house team, namely Dr. Natalie Setz (in-house lawyer, Head of Legal, insurance, real estate), Dr. Mira Meyer (in-house lawyer, energy law) and Ms. Damaris Stey (Dipl. jur. (FH), corporate law).
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