VALOREM Secures €550m Financing
Deal News | Nov 22, 2024 | Watson Farley & Williams
Watson Farley & Williams (WFW) has advised the French renewable energy operator VALOREM Group on the legal due diligence for a series of financial transactions, including a significant fund raising effort and a stake sale by 3i Infrastructure. The overall deal amounts to €550 million. The €200 million cash injection will originate from a consortium comprising AIP Management and IDIA. AIP Management is also acquiring a 33% stake from 3i Infrastructure in the VALOREM Group. The advisory team from WFW, led by Regulatory and Public Law Partner Laurent Battoue, was involved in various aspects of the deal, including public law, regulatory matters, project contracts, corporate expertise, financing, employment, and tax law. The transactions are projected to complete by the first quarter of 2025. VALOREM, a key player in wind power, operates primarily in the French West Indies, Finland, Greece, and Poland. The company specializes in the entire renewable energy production cycle and has financed over 865 MW of projects.
Sectors
- Renewable Energy
- Legal Services
- Finance
Geography
- France – VALOREM Group is an independent French renewable energy operator and WFW's team leader is based in Paris.
- Europe – VALOREM's projects span across the European region, including the French West Indies, Finland, Greece, and Poland.
Industry
- Renewable Energy – The focus of VALOREM Group on wind power and renewable energy production makes this industry classification relevant.
- Legal Services – Watson Farley & Williams provides a comprehensive legal advisory service for the transaction, indicating the importance of this sector.
- Finance – The deal involves significant financial transactions including fundraising and acquisition stakes, pointing to the finance sector.
Financials
- €550 million – Total deal amount for VALOREM Group’s financial transactions.
- €200 million – The cash injection from the consortium including AIP Management and IDIA.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VALOREM Group | Target | Company | A French renewable energy operator with significant expertise in wind power and renewable energy projects. |
| Watson Farley & Williams (WFW) | Legal Advisor | Company | A leading international law firm providing comprehensive legal advisory services for the deal. |
| AIP Management | Investor | Company | Part of the consortium investing €200 million into VALOREM and acquiring a 33% stake. |
| IDIA | Investor | Company | Part of the consortium investing in VALOREM. |
| 3i Infrastructure | Vendor | Company | Selling its 33% stake in VALOREM Group to AIP Management. |
| GSO | Investor | Company | Retains its stake in VALOREM Group. |
| IRDI | Investor | Company | Maintains its investment in VALOREM. |
| Bpifrance | Investor | Company | Holds a stake through its France Investissement Energie Environnement 2 fund. |