Energy
Our recent instructions include:
- Advising Enel SpA, a leading European utility on the EUR 820,000,000 successful acquisition of Electrica Muntenia Sud, the largest electricity distribution company in Romania, including undertaking an extensive legal due diligence process and the preparation of the position papers, binding offer and final binding offer, as well as negotiating the transaction documents (shares sale-purchase agreement, escrow agreement, etc) in connection thereto. The acquisition of Electrica Muntenia Sud by Enel has been considered by the business community, including by the leading business papers in Romania, as the largest and most successful transaction of the year 2007.
- Advising the Romanian Government (Ministry of Economy and Finance) on drafting and implementing the strategy for the restructuring of a EUR 1,200,000,000 debts of S.C. Termoelectrica S.A., (one of the largest State owned electricity producers). Legal work rendered included an extensive due diligence on the target as well as in-depth analysis of the regulatory related matters, drafting the necessary legal bills to implement the strategy prepared and getting securing clearance from the Competition Council and the European Commission (DG Comp.) in connection thereto.
- Assisting Enel on the acquisition of several energy companies owned by the Romanian State among which a 800 MW Hard Coal Capacity located in Braila, with investment in excess of EUR 1,000,000,000. The legal work involved legal due diligence over the targets, related regulatory work, preparation of all offer related documents and negotiation of the transaction documents.
- Advising the Ministry of Economy and Finance in relation with the restructuring of Petrotrans S.A. – the leading state-owned company in the oil products transport sector. Legal work rendered included an extensive due diligence on the target as well as in-depth analysis of the regulatory related matters to implement the strategy prepared and the preparation of the memorandum presented to the Romanian Government in view of approval of the proposed strategy.
- Advising one of the major European utilities in connection with the successful acquisition of a major renewable project, for the purposes of developing a 200 MW wind power plant in the south of Romania, including an extensive due diligence and preparation of the relevant transaction documents.
- Advising PPF Investments in relation to the recent acquisition of one of the main local private gas distributors and suppliers GAZ SUD S.A., in a complex transaction valued EUR 50,000,000.
- Retained by Enel SpA in relation with the structuring and implementation of one of the biggest PPP projects in the energy sector via the development of Units 3 and 4 of CERNAVODA NPP in a EUR 3,500,000,000 joint venture project with Nuclearelectrica S.A. and other main players in European the utilities sector. Legal work rendered included advising on the full range of regulatory issues, assistance in the prequalification and qualification stages and negotiations with the initiator of the privatization project.
- Retained by Good Wind - a leading Italian energy supplier in connection with the implementation of a large scale wind power project in Romania. The Firm has been providing legal advice on various issues concerning wind energy and wind energy market, as well as on real estate and financing issues related to the project, regulatory work, etc..
- Retained by The Romanian Regulatory Authority on the Gas Sector (ANRGN) – as lead legal counsel in connection with the drafting and development of the secondary legislation in the gas market aimed at achieving, inter alia, full liberalisation and unbundling of the national gas market.
- Advising Statkraft Markets Gmbh - a major European renewable energy producer in relation with their Romanian energy projects, including regulatory work, authorisations and licenses, drafting energy contracts and other related legal advice.
- S.C. Electrocentrale Bucuresti S.A. – one of the largest electricity producers, on the project regarding the modernisation and development of several co-generation heating plants through joint ventures with private investors and in the project for the extension with new cogeneration capacities of CET Bucuresti Vest.
- Advising EP Partners in the ongoing development of green fields for electricity generation from renewable sources (wind energy included). Projects include legal advice on licensing and permitting requirements for the start up, drafting and negotiating the relevant transaction documents, etc.
- Advising Enel Distribuzione SpA in connection with the EUR 112,000,000 privatization of two of the subsidiaries of Electrica S.A. (the largest electricity distribution company of Romania) - Electrica Banat S.A. and Electrica Dobrogea S.A., including undertaking legal due diligence, drafting the transaction documentation and assisting the client on the share sale purchase agreement negotiations and closing issues.
- Advising Union Fenosa Internacional S.A., part of the group Union Fenosa S.A., in connection with the regulatory issues, tariffs, public property and concession regulations during the due diligence and the negotiations for the privatization of two of the electricity distribution and supply companies, Electrica Oltenia S.A. and Electrica Moldova S.A..
- Assisting Enel SpA in connection with regulatory issues, tariffs, public property and concession regulations during the privatization process of the two gas distribution companies, Distrigaz Sud S.A. and Distrigaz Nord S.A..
- Assisting Enel Produzione SpA in connection with a public private partnership (PPP) project with Hidroelectrica S.A. (the sole generator of hydroelectric power in Romania).
- Advising Enel SpA in connection with the structuring, negotiation and amendment of a complex risk guarantee scheme put in place by World Bank, Citibank and the Romanian Ministry of Economy and Finance, aimed to cover the risk of adverse changes in regulation, concerning electricity distribution and supply activities in Romania.
- Advising Arcelor Mittal (former Mittal Steel) with respect to drafting and negotiating electricity supply agreements for Mittal Steel Galati S.A. (former Sidex S.A.) with several suppliers on the free market, with a view to cut costs and manage its electricity supply requirements more efficiently.
- Legal assistance to an international consortium in relation to the developing and implementing public private partnerships in distinct heating services projects financed under PPP arrangements as well as the district heating rehabilitation.
- Legal assistance to BKW FMB Energie AG in relation to a financing structured in form of a stock option plan granted to Conel. The firm has extensively reviewed the Conel's corporate aspects and assets liabilities and drafted all required documents to launch the project.
