Hamburg - Nordex and RWE have signed a put option agreement on the potential sale of Nordex's European wind and photovoltaic development pipeline to RWE. The project development pipeline in the context of the transaction comprises approximately 2.6 GW of wind capacity, including one of the largest pipelines in France of approximately 1.8 GW, in addition to a 0.1 GW solar photovoltaic pipeline. Nordex will continue with its wind developments in other markets. The transaction represents an important milestone for Nordex as it further solidifies its global position amongst the top four industry leaders.
An international team led by the partners Dr Hilke Herchen, Dr Eckart Gottschalk (both CMS Germany) and Alexandre Morel (CMS France) advised Nordex on all legal aspects of the potential sale. Such legal advice included inter alia the structuring of the transaction and definition of required carve out measures, performance of a vendor legal due diligence covering the jurisdictions involved and the preparation of the transaction documentation. Apart from CMS Germany and CMS France, CMS offices in Poland, Spain and the Netherlands as well as WISTRAND (Sweden) were involved.
Nordex will now conduct the usual French process for involving the employees. This process has to be completed before Nordex makes a decision to exercise the put option agreement, whereby the final agreements would become binding between Nordex and RWE. The sale is subject to foreign investment control in France and the completion of carve-out processes.
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 Holger Kraft, Partner
Dr Martina Schmid, Partner
Dr Philipp Koch, Counsel
Dr Clemens Völschow, Senior Associate
Dr Levent Hancioglu, Senior Associate
Dr Constantin Lentz, Senior Associate
Dr Anja Wiedemann, Senior Associate
Dr Alexander Weinhold, Associate, all Corporate/M&A
Christoff Henrik Soltau, Partner
Dr Denis Schlimpert, Senior Associate, both Competition & EU
Dr Dennis Heinson, Counsel, TMC
Dr Tilman Petersen, Senior Associate, Real Estate & Public
Dr Daniel Ludwig, Partner, Labor, Employment & Pensions
Dr Martin Mohr, Counsel, Tax Law
François de Gabrielli
Pierre de Kerpoisson
Victoire de Ménonville
Luis Miguel de Dios
Bruno De la Rica
Bob van Zijl
Elisabeth Anne Von Meijenfeldt
Nordex SE, Inhouse
Alexander Rößler, General Counsel