Wintershall Dea sells its stake in energy transition player WIGA to SEFE

Wintershall Dea has agreed to sell its controlling stake in WIGA Transport Beteiligungs and WIGA Verwaltungs to Securing Energy for Europe (SEFE). German grid operator WIGA operates high-capacity gas transportation infrastructure – its pipeline network plays a key role in ensuring German and European energy security and in the future movement of hydrogen. 

WIGA Group maintains an ambitious strategy for the resource and also aims to play a leading role in German and European energy transition, including the development of Germany’s core hydrogen network.

Government-owned SEFE, a Berlin-headquartered integrated midstream energy company, currently holds a 49.98% stake in the group. Wintershall Dea – a leading independent European gas and oil company – holds a 50.02% share in WIGA.

Deal should conclude this summer

Upon closing the transaction with Wintershall Dea, SEFE will become the sole shareholder. To enable this, the German Federal Government had notified an amendment to the original approval decisions for the recapitalisation of SEFE “with a view to the applicable acquisition ban”.

This week saw the relevant state aid approval adopted, although the transaction is still subject to the European Commission giving merger and subsidy control approval. This is expected to be completed in summer 2024.

SEFE will gain strength from WIGA

WIGA is the sole shareholder of German-regulated gas transmission system operators GASCADE Gastransport and NEL Gastransport. Those independent subsidiaries operate onshore gas transmission networks in Germany with a combined length of about 4,150km and a direct connection to five European countries.

SEFE, which is active in trading and portfolio management, sales, transportation, and storage of energy, has its strongest presence in Germany and the UK.

The firm employs about 1,500 people and supplies 50,000-plus customers, in particular industrial users, and municipal utilities in Germany and seven other European markets.