Sintez Group and RWE AG had planned a joint acquisition of the Russian energy supplier TGK-2 in 2008. Following the failure of the negotiations, Rustenburg Co. Ltd. (“Rustenburg”), part of Sintez Group, filed a EUR 700 million damage claim (plus interest) against RWE AG arising from the termination of the mutual plan.
After the Essen Regional Court had initially dismissed the claim in 2015, Rustenburg continued the dispute before the Hamm Higher Regional Court and obtained an extensive discovery proceeding in English and Russian law. In its ruling of 25 November 2019, the Higher Regional Court has now dismissed Rustenburg's appeal and denied the appeal to the Federal Court of Justice.
Baker McKenzie represented the defendant RWE AG in the proceedings.
Legal advisor to RWE AG:
Lead: Corporate/M&A: Dr. Ingo Strauss (partner, Dusseldorf)
Team: Dr. Tobias Höfling (senior associate, Frankfurt), Vladimir Khvalei (partner, Moscow), Alexandra Shmarko (associate, Moscow)