Linklaters advises Qatar Investment Authority on an investment in RWE AG in the amount of 2.43 billion euros under a mandatory convertible bond

Linklaters has advised QIA (Qatar Investment Authority), the sovereign wealth fund of the State of Qatar, on an investment in the amount of approximately 2.43 billion euros in RWE AG (RWE). The investment was made to support RWE’s accelerated Growing Green strategy.

RWE will issue a mandatory convertible bond to a subsidiary of QIA. When due, the mandatory convertible bond will be converted into new ordinary bearer shares expected to represent just under 10% of RWE’s share capital (and approximately 9.09% of the increased share capital post conversion).

RWE intends to use the proceeds of issuing the mandatory convertible bond to acquire Con Edison Clean Energy Businesses, Inc.

The Linklaters team advising was led by Stephan Oppenhoff (Partner, Corporate/M&A, Frankfurt), Peter Waltz (Partner, Capital Markets, Frankfurt) and Dr Alexander Schlee (Partner, Capital Markets, Frankfurt).