WOLF THEISS Bucharest law firm has assisted Astronergy Solar Netherlands B.V. in the acquisition of ACV Solar Technology S.R.L., a company developing a 5.98 MWp photovoltaic project in Cluj County.
Initially, Wolf Theiss has assisted Astronergy in the extensive and challenging due diligence phase of the acquisition, including in connection with the remediation of the issues identified in the due diligence process and repeated updates of the due diligence report. "The Due Diligence investigation involved a sustained effort to identify the critical issues and the best solutions to address the problems in a relatively short time and in the context of unclear legislation." stated Oana Caminof, Associate Wolf Theiss.
Further on, Wolf Theiss has assisted Astronergy in relation to the structuring of the deal and in the actual negotiation and implementation of the transaction.
Adelina Iftime-Blagean, Senior Associate Wolf Theiss, stated: "The transactional stage was again extremely challenging, with intensive, sophisticated and lengthy negotiations concerning the preferred structure, the elements conditioning the completion of the transaction, the specific obligations undertaken by the parties prior and post completion, the liability thresholds, the payments structuring and the reciprocal securities given by the parties. The excellent collaboration between Wolf Theiss team members ensured the successful completion of this transaction, after almost eight months as of the start of the due diligence process".
Ciprian Glodeanu, Partner Wolf Theiss, also stated: "I am overjoyed that there is still interest in the photovoltaic industry in Romania, despite the uncertainties introduced by recent legislative changes. Astronergy is a prominent name in the field of solar energy and this new acquisition confirms that this area can still attract important investments to the Romanian economy."
The Wolf Theiss Bucharest team lawyers involved in the transaction were Adelina Iftime-Blagean (Senior Associate – Corporate M&A team), Luminita Gheorghe (Associate - Corporate M&A team), Oana Caminof (Associate – Projects team) and Alice Apetrei (Associate – Real Estate team) with the support of Ciprian Glodeanu (Partner).
Wolf Theiss continues to assist Astronergy, among others, in the implementation of the transaction closing and in further restructuring of ACV Solar Technology S.R.L.
Astronergy Solar Netherlands B.V. is part of Chint Group, the Chinese market leader in industrial electrical equipment production and clean energy fields. The business of Chint Group ranges from low-voltage electrical products to power transmission and distribution equipments and services, PV power generation and equipment manufacturing.
ABOUT WOLF THEISS
Founded in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 340 lawyers in 14 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.
* • Best in Austria Award, 2012 (European Woman in Business Law Awards, Euromoney)
* Energy Law Firm of the Year, 2012 (The Diplomat – Bucharest)
* ÖGV-Unternehmer, 2011 (Österreichischer Gewerbeverein)
* Law Firm of the Year: Central Europe, 2010 (The Lawyer European Awards)
* Law Firm of the Year: Eastern Europe and the Balkans, 2012 & 2009 (The Lawyer European Awards)
* Law Firm of the Year, 2010 (Southeastern Europe Real Estate Awards, Europa Property)
* Worldwide – Entertainment and Media Law Team of the Year, 2009 (World Leaders International IP Awards)
* Austrian Client Service Law Firm of the Year, 2011 (Chambers & Partners)
* Austrian Law Firm of the Year, 2013, 2012, 2011, 2010 & 2009 (Who's Who Legal, IFLR - International Financial Law Review; Chambers & Partners; PLC Which lawyer?; ILO - International Law Office)
* Austrian Tax Law Firm of the Year, 2011, 2010 & 2009 (International Tax Review)
* Czech Law Firm of the Year, 2010 (IFLR - International Financial Law Review)
* Hungarian Law Firm of the Year, 2009 (IFLR - International Financial Law Review)
* First Place Winner Practice Development, 2011 (Your Honor Awards, Legal Marketing Association)
For a complete awards list please visit www.wolftheiss.com\About Us\Awards