International law firm Watson Farley & Williams (“WFW”) has advised Amundi Transition Energétique (”ATE”), a management company owned jointly by Amundi and EDF, in connection with the purchase via the Cogénération France I Fund of a majority stake in a portfolio of cogeneration plants owned by Dalkia. This first investment by ATE which amounts to over €150m (partially financed by bank loans from Auxifip and Crédit Industriel et Commercial) involves 132 plants with a combined capacity of more than 330 MW producing electricity and heat for residential, industrial and public customers primarily via public service contracts.
The WFW Paris team advising ATE was led by Partner Arnaud Félix, who advised on all corporate/M&A aspects of the transaction assisted by Associate Doris Cayon, while Partner Laurent Battoue and Associate Julie de Bréon provided public/regulatory law advice. Finance law advice was provided by Partner Laurence Martinez-Bellet and Associate Aurélien Sevin, and tax advice by Partner Romain Girtanner supported by Associate Hélène Ibos.
Arnaud commented: “We are really pleased to have assisted ATE with their first investment in the energy infrastructure sector and in particular in cogeneration plants. WFW Paris continues to be very active in the energy sector, especially these last few months with regard to cogeneration and heat networks. All of which demonstrates our ability to advise leading energy industry players on all aspects of major deals whether corporate, regulatory, project contract, financial or tax related”.