The Frankfurt office of Debevoise & Plimpton LLP has advised Belectric Group (“Belectric”) in its sale of Belectric Solar & Battery Holding GmbH (“Belectric Solar & Battery”) to innogy SE (“innogy”).
The transaction is structured through a share purchase agreement, and the parties have agreed a purchase price in the high double-digit million € range. The transaction is subject to approval by the anti-trust authorities and reorganizational measures. Closing of the transaction is intended to take place in early 2017.
Belectric Solar & Battery is engaged in the design, installation, operation and maintenance of utility-scale photovoltaic plants. It is also active in the field of battery storage systems and develops among others turn-key large-scale battery storage solutions. Technology products are developed and manufactured at the company’s own plants in Germany and India. The regional focus of this business area is on Europe, the growth markets of the MENA region (Middle East North Africa) as well as India, South America and USA.
Innogy (previously RWE International SE) is one of Europe’s leading energy companies. With its three business areas of renewables, grid and infrastructure and retail, it addresses the requirements of a modern, decarbonised, decentralised and digital energy world. Innogy’s key markets are Germany, the United Kingdom, the Netherlands, Belgium and several countries in Central Eastern and South Eastern Europe, especially the Czech Republic, Hungary and Poland.
The Debevoise team advising Belectric was led by international counsel Philipp von Holst, and included Frankfurt associates Klaudius Heda, Alexander Wolff, Dr. Andrea Pomana and Eve Leclercq. Paris partner Pierre Clermontel also advised, assisted by associate Rosanne Lariven. London based associate Sayo Ogundele also advised.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.