McDermott Advised Integrated Asset Management Plc on €127 Million Acquisition of Solar Plants Portfolio in Italy
ROME (July 21, 2016) – International law firm McDermott Will & Emery represented Integrated Investments SICAV – SIV, part of the London-based alternative investment group Integrated Asset Management plc (Integrated), in connection with the €127 million acquisition of Italian solar photovoltaic plants with a total capacity of 34Mw. The transaction is considered as one of the most significant deals in the Italian energy industry in 2016.
The acquisition price of the portfolio has been financed by the Integrated-led group through a mezzanine combined with project finance credit facilities underwritten by Mediocredito Italiano. Banca IMI acted as facility agent. Integrated has partnered in this transaction with Econergy Systems Ltd., an Israel-based management group with considerable experience in solar energy investments.
McDermott advised Integrated on all matters concerning the transaction, including the drafting and negotiation of corporate and financial documents, tax structuring, financing and energy regulatory matters.
The McDermott team advising on this complex cross border transaction comprised transactions partner Massimo Trentino, energy partners Marco Cerritelli and Carsten Steinhauer and tax partner Mario Martinelli, as well as associates Gianmarco Scialpi, Paolo Cocchini, Valentina Perrone and Riccardo Narducci.
Agnoli & Giuggioli and BonelliErede advised Econergy Renewable 1 S.p.a., while Legance acted as legal advisor to the financing banks.
McDermott’s Italian Transactions group provides a broad range of services to domestic and international clients on all aspects of infrastructure and energy sectors in Italy, Europe and the Middle East. The Firm represents developers, operators and suppliers, as well as private investors and funds, financial institutions, and international brokers and dealers. McDermott is also one of the top providers of legal services to participants in competitive energy trading markets.
About McDermott Will & Emery McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.