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CMS Advises eFriends on Sale of 24% Stake to Raiffeisen Ware Austria

CMS Advises eFriends on Sale of 24% Stake to Raiffeisen Ware Austria

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CMS has advised green electricity provider eFriends on the sale of a 24% stake to RWA Raiffeisen Ware Austria.

Financial terms were not disclosed.

According to CMS, the transaction has been described as “forward-looking” in the energy sector, and the firm reported that it “provides important impulses to further promote the sustainable production and distribution of regional solar electricity in Austria.”

The eFriends company enables “direct exchange and sale of solar power on a private basis,” reports CMS. “Users can share self-produced surplus solar power with other users in real-time. All that is required is the 'eFriends Energy Control,' which is simply installed in the distribution panel. With 500 participating households, eFriends is currently the largest (private) energy community in Austria.”

CMS’s team included Partner Johannes Trenkwalder, Attorney Georg Gutfleisch, and Senior Associate Sanela Fuerstenberg.

CMS did not reply to our inquiry on the matter.

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