Raue LLP Advises GASAG on Acquisition of Majority Interest in Provedo

As of January 1, 2017, GASAG Berliner Gaswerke AG has acquired a majority interest of 56.67 percent in Provedo GmbH. Based in Leipzig Provedo has been developing and manufacturing hardware and software for intelligent building automation (Smart Home) for eight years. The products are primarily used in the residential sector, in hospitals, hotels, or in commercial buildings.

The Raue LLP team provided comprehensive advice to GASAG during the transaction.

GASAG intends to position itself more strongly in the growing smart home market by means of the majority participation and is thereby broadening its offer in combination with the energy services already available in the GASAG Group.

(8 February 2017)