EP Energy Transition today announced that it has acquired a 30% stake in LEAG from PPF, thereby becoming the sole shareholder of LEAG. The transaction does not require any regulatory approvals, such as antitrust clearance.
EP Energy Transition, together with the company’s management, will continue the energy transition process, focusing on moving away from traditional fossil fuels toward more environmentally friendly solutions. Planned investments include the development of large-scale battery storage facilities, highly efficient hydrogen-ready gas power plants, and the construction of renewable energy sources.
„We are fully aware of the key role that LEAG plays in ensuring Germany’s energy security. That is why we are coordinating all transformation steps with local and federal governments. At the same time, we recognize that this transition must be socially responsible, as LEAG is a major employer in the region. Being the sole shareholder of LEAG will help us implement the transformation of LEAG in the scope and timeframe expected,“ said Jan Špringl, member of the Board of Directors of EP Group, the parent company of EP Energy Transition.
EP Energy Transition also expressed its gratitude to PPF for its contribution to LEAG’s development.
The parties agreed not to disclose any details of the transaction.
About EP Energy Transition
EP Energy Transition is part of EP Group and focuses on developing sustainable energy projects to ensure a stable and environmentally responsible energy future.