Hamburg - Nordex SE has successfully completed the sale of its European wind and photovoltaic development pipeline to RWE. The transaction was completed at the beginning of November 2020, only a few months after signing a corresponding put option agreement. With the completion of the transaction, RWE will acquire a project pipeline in France, Spain, Sweden and Poland with around 2.6 GW. In connection with the transaction, a project development team of more than 70 people will also transfer from Nordex to RWE. The purchase price amounts to around EUR 400 million.
An international CMS team, led by the partners Dr Hilke Herchen, Dr Eckart Gottschalk (both CMS Germany) and Alexandre Morel (CMS France) together with colleagues from CMS Germany, CMS France, CMS Poland, CMS Spain and CMS Netherlands as well as WISTRAND from Sweden, provided comprehensive legal advice to Nordex in connection with the transaction. The advice provided by CMS comprised in particular the structuring of the transaction, the performance of the legal due diligence, the preparation and negotiation of the transaction documentation in the course of a bidding process, the performance of the necessary carve-out measures within the jurisdictions involved (including the employee participation procedure in France) as well as the preparation and implementation of the closing.
From Nordex's legal department, Alexander Rößler (General Counsel) was in charge of the transaction.
Dr Hilke Herchen, Lead Partner
Dr Eckart Gottschalk, Lead Partner
Dr Clemens Völschow, Senior Associate
Dr Charlotte Dobers-Koch, Senior Associate, all Corporate/M&A
Christoff Soltau, Partner, Competition & EU
Dr Dennis Heinson, Counsel, TMC
Dr Daniel Ludwig, Partner, Labor, Employment & Pensions
Dr Martin Mohr, Counsel, Tax
Alexandre Morel, Lead Partner
Pierre de Kerpoisson
Céline Cloche-Dubois, Partner
Edouard Milhac, Partner
Caroline Froger-Michon, Partner
Łukasz Szatkowski, Partner
Luis Miguel de Dios, Partner
Bruno De la Rica
Bob van Zijl
Elisabeth Anne Von Meijenfeldt
Robert Kullgren, Partner
Rudolf Laurin, Partner