Bondoc & Asociatii advised on the sell side, Solarealize, a leading Portuguese developer of solar projects, in a M&A transaction concerning a project portfolio of approx. 250 MW planned capacity.
The transaction involved the transfer of shares in several project companies and a complex legal and commercial structuring for ensuring the right balance between the seller’s expectations and the purchaser’s requirements. Solarealize will further remain closely involved in the projects until reaching “ready to build” stage.
Bondoc si Asociatii team was led by Cosmin Stavaru (Partner) with the main support from Matei Vilcov (Associate) and included Vasile Soltan (Associate), Bogdan Istov (Senior Associate), Silviu Vasiliu (Senior Associate) and Rares Iacob (Junior Associate), as well as Raluca Nadejde (Partner) and Ionut Lechea (Associate), who advised on the FDI aspects of the deal.
“It was a transaction intensely negotiated over a relatively long period of time, in which the strong will of both sides to overcome various obstacles and the professionalism of the involved teams have been key factors for success. We are happy and honored to have advised once again our long-term client, Solarealize, one of the most active developers of renewable projects on the Romanian market, to achieve its country targets. This transaction also proves that the prospects of the Romanian renewable energy market remain optimistic, despite the fact the legal framework needs a refreshing on certain aspects to become more investor friendly.” said Cosmin Stavaru.
Solarealize has been, through an indirect affiliated group, one of the first investors in the Romanian renewable energy sector. At global level, the group implemented investments in renewable energy projects worth approx. EUR 500 million and holds a pipeline of projects under development which, when successfully completed, will be worth approx. EUR 700 million.
This transaction has proved once again Bondoc si Asociatii’s great expertise in Corporate M&A and Energy & Natural Resources practice areas, as constantly recognized by the international legal directories (such as Legal 500 and Chambers & Partners). Bondoc si Asociatii has a strong client base across the entire value chain of the energy sector and notably in the green energy field, in which the team is very active assisting from A to Z in an impressive number of projects.