spot_img
Thursday, September 28, 2023

Dentons advises FCC Aqualia on US$180 million acquisition of Georgia Global Utilities

Global law firm Dentons has advised Spanish water utility FFC Aqualia on the US$180 million acquisition of an 80% share in Georgia Global Utilities (GGU) from Georgia Capital Group (GCAP)

-

Aqualia is a subsidiary of Fomento de Construcciones y Contratas, (FCC), a Spanish construction company, which owns a 51% share, and Australian fund IFM Investors, which owns a 49% share.

This transaction is an important step in FFC’s international expansion strategy, giving it a controlling share in GGU, which owns and operates the water infrastructure in Tbilisi and other cities in Georgia.

Under the terms of the agreement, the transaction will take place in two phases. In the first phase, Aqualia will acquire 65% of GGU, which includes both water and renewable energy assets. In the second phase, GGU will spin off the independent renewable assets, leaving GGU with only the water assets and four related hydroelectric plants, bringing Aqualia’s shareholding to 80% of GGU’s water utility business. The parties also entered into a shareholders’ agreement under which Aqualia and GCAP have granted each other a put option and a call option over GCAP’s 20% shares in GGU.

Jabier Badiola, Spain managing partner, and Tbilisi-based partner Avto Svanidze led Dentons’ international legal team on the deal. The team also included: senior associates Irakli Pipia, Natela Otaridze and Mariam Vashakidze, and associates Sopho Mebonia, Neli Tsivtsivadze and Darejan Beridze in Tbilisi; partner Jesús Durán in Madrid; as well as partner Diego Pol and associate Cristina Serrahima in Barcelona.

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

ONTIER guides ECI’s €60m sale of 47 Supercor to Carrefour, advised by CC

According to Cinco Días, the company has closed the transfer of 47 Supercor shops, its chain of neighbourhood supermarkets, to Carrefour for €60 million....

KWM assists Santander and EIB with €553m Green Loan financing to Solaria

King & Wood Mallesons' Finance and Banking team in Madrid advised Banco Santander and the European Investment Bank (EIB) on the agreement reached with...

KWM guides Moira Capital´s €10m investment in IEQSY

Moira Capital Partners has closed the year with its 14th investment. IEQSY is a Spanish company specialising in the design and manufacture of systems...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
error: