Asterion buys German utility Steag for $2.8b
Transactions - AUGUST 28, 2023

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Asterion buys German utility Steag for $2.8b

by Andrea Zander

Spanish infrastructure investor Asterion has agreed to acquire German utility Steag in a deal valuing the business at €2.6 billion ($2.81 billion).

The seller was the consortium Kommunale Beteiligungsgesellschaft (KSBG), which represents the municipal utilities of the cities of Dortmund, Duisburg, Bochum, Essen, Oberhausen and Dinslaken.

Asterion will continue to support the goal formulated by STEAG of becoming climate neutral by 2040.

“Our firm is fully committed to the energy and heat transition, and STEAG is very well positioned to be a very relevant player in Germany and Europe in this process towards cleaner, more competitive and reliable energies such as solar and wind power, while offering an interesting energy mix that is also supported by coal and gas to guarantee the viability of this transition. It also has a team of experienced management and skilled employees with technical expertise in wind, solar and district heating. Its energy sites have exc

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