Adven Secures EUR 675 Million Financing Platform in Nordic and Baltic Expansion
Deal News | Feb 27, 2025 | CEE Legal Matters
Adven, a leading provider of sustainable energy solutions in the Nordic and Baltic regions, has renewed its financing platform by raising EUR 675 million. The transaction, which involved a combination of bank financing and private placement loans, was finalized in January 2025, setting a robust base for Adven's future growth. Legal advisory for the transaction was provided by Ellex, in collaboration with Allen & Overy and Shearman & Sterling. The renewal was aimed at supporting Adven’s expansion plans across the region. The Ellex team included key associates and partners from their offices in Latvia and Estonia. The firm, however, refrained from commenting on the specifics of the deal.
Sectors
- Sustainable Energy
- Legal Advisory
Geography
- Nordic and Baltic Regions – Adven operates predominantly in the Nordic and Baltic regions, and the financing platform renewal is aimed at supporting expansion in this area.
- Latvia – Ellex's legal team advising on the deal included members based in Latvia, highlighting its geographical significance.
Industry
- Sustainable Energy – Adven is a provider of sustainable energy solutions, and the financing platform renewal supports its expansion within this sector.
- Legal Advisory – Ellex, along with Allen & Overy and Shearman & Sterling, provides legal advisory services essential to the financing deal.
Financials
- EUR 675 million – The total sum raised through the financing platform renewal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adven | Target | Company | Provider of sustainable energy solutions in the Nordic and Baltic regions. |
| Ellex | Legal Advisor | Company | Provided legal advisory services for Adven's financing renewal, with teams in Latvia and Estonia. |
| Allen & Overy | Legal Advisor | Company | Cooperated with Ellex and Shearman & Sterling in advising on the financing deal. |
| Shearman & Sterling | Legal Advisor | Company | Collaborated with Ellex and Allen & Overy in providing legal services for the financing renewal. |
| Marta Cera | Associated Partner | Person | Latvia-based Associate Partner at Ellex who was part of the legal advisory team. |
| Beata Plocina | Senior Associate | Person | Latvia-based Senior Associate at Ellex involved in the deal. |
| Niklavs Zieds | Senior Associate | Person | Latvia-based Senior Associate at Ellex involved in the deal. |
| Eliza Semkina | Associate | Person | Latvia-based Associate at Ellex involved in the transaction. |
| Ermo Kosk | Partner | Person | Estonia-based Partner at Ellex involved in the deal. |
| Toomas Kasesalu | Counsel | Person | Estonia-based Counsel at Ellex involved in the transaction. |