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Wednesday, April 17, 2024

ECIJA, WFW guide KGAL fund-Grupo Premier JV

ECIJA has advised alternative investment fund KGAL ESPF 5, managed by Germany´s KGAL on its joint venture with Spanish renewables developer Grupo Premier, counselled by Watson Farley & Willliams

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ECIJA has advised the alternative investment fund KGAL ESPF 5, managed by KGAL Investment Management GmbH & Co. KG (one of the leading independent investment and asset managers with a managed investment volume of more than €16.5 billion) in the structuring of a joint venture with Grupo Premier, a leading operator in several European countries, for the development of renewable energy plants, mainly photovoltaic and wind power in Spain.

After years of cooperation, the Spanish partner will contribute its own portfolio of solar PV projects to the joint venture for further development, while the German partner will provide financial, operational and strategic support.

In September 2022, the German fund reached an agreement with Premier’s owners to take a 75% stake in a new company set up as an independent power producer (IPP) that will cover the company’s renewable projects, mainly photovoltaic, in Spain.

ECIJA partner Magdalena Bertram led the team involved in the Due Diligence activities on the assets under investment, as well as in the negotiation and preparation of the contractual documentation related to the transaction, including the sale and purchase agreement and the shareholders’ agreement entered into with Grupo Premier. Lawyers Álvaro Gallego and Carmen Ramón also advised on this deal.

María Pilar García Guijarro (left), Román Pazos (top centre), Héctor Suárez (top right), Borja Gavila (bottom centre) and Sonia Camps (bottom right)

Grupo Premier was advised by Watson Farley & Williams with a team led by partner María Pilar García Guijarro, along with senior associates Román Pazos and Héctor Suárez, and associates Borja Gavila and Sonia Camps.

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