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Thursday, February 22, 2024

Law firm trio advise on Enerside´s incorporation to BME Growth

Linklaters has advised the Placement Entities on Enerside Energy´s incorporation to BME Growth, becoming the first company to join Spain´s BME market in 2022. Latham & Watkins advised the issuer while Ramón y Cajal Abogados performed the Legal Due Diligence.

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Enerside Energy, S.A., which already announced its intention to proceed with an offering of newly issued ordinary shares with the aim of raising gross proceeds of approximately €40 million to finance its business plan, has launched the offer to facilitate the company’s incorporation into BME Growth and support its current business plan.

Enerside is a fully integrated photovoltaic solar energy sector company that stands out for its strong industrial profile and geographic diversification in the markets with the greatest potential for solar energy (Spain, Italy, Brazil and Chile).

Its current 2021-2025 business plan contemplates all the phases of the value chain, from the generation of the opportunity, the development, the construction and the subsequent operation and maintenance of photovoltaic plants. Enerside is currently immersed in promoting the development of 4.5 GW in differentiated, highly qualified projects with an advanced degree of maturity that give it an excellent position to capture the growth in demand and a great capacity to generate value, through the sale of projects in the RTB (Ready To Build) phase and with the direct exploitation of part of the pipeline as an independent power producer (IPP).

The company intends to list all of its shares, including the new shares, on the BME Growth trading segment of BME MTF Equity.

The operation is directed by Alantra, as Global Coordinating Entity and Placement Entity (Sole Global Coordinator and Joint Bookrunner), Renta 4 Banco, S.A. and Andbank España, S.A.U., as Placement Entities (Joint Bookrunners). Likewise, Renta 4 Banco, S.A., acts as Agent Entity of the Offer and as Liquidity Provider.

The advisers to the issuer are Renta 4 Corporate, S.A., in its capacity as registered adviser, and Latham & Watkins LLP, as adviser on the Legal aspects of the offer. The legal advisor of the placement entities is Linklaters, S.L.P. On the other hand, EY participated as auditor of the company and in the Financial Due Diligence, and Ramón y Cajal Abogados participated in the Legal Due Diligence of the operation.

Linklaters´team was formed by partner Jorge Alegre and counsel Pablo Medina.

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