Shearman And Sterling

News Oct 02, 2014

Shearman & Sterling Advises EFG Hermes on $208 Million Leveraged Buyout of EDPR France

Shearman & Sterling has advised the private equity arm of EFG Hermes on the acquisition of a 49% equity shareholding in French wind energy company EDPR France in a transaction worth US$208 million. The investment marks EFG Hermes' first European investment, beyond the Middle East and Africa.

Approximately half of the US$208 million buyout will be funded via an acquisition finance facility secured from leading European banks. Completion of the transaction is subject to regulatory approval and other customary closing conditions.

Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research.

EDPR France has a portfolio of 33 operational wind farms, with a combined gross capacity of 334 MW. The company is a subsidiary of EDPR Renewables (EDPR), one of the top four global renewable energy companies that develops, constructs and operates renewable energy assets with over 8.6 GW of installed capacity across three continents.

The Shearman & Sterling team was led by partner Marwan Elaraby (Abu Dhabi-Project Development & Finance) and included partners Pierre-Nicolas Ferrand (Paris-Finance), and Niels Dejean (Paris-Tax); of counsel Chris Bright (London-Antitrust); counsel Philippe Wolanski (Paris-Finance) and Anne-Sophie Maes (Paris-Tax); and associates Amine Assouad (Abu Dhabi-Mergers & Acquisitions), Samuel Ogunlaja (Abu Dhabi-Project Development & Finance), Danielle Asaad (New York-Mergers & Acquisitions) and Matt Wochok (Washington, DC-Tax).