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04/02/2011
CMS Bureau Francis Lefebvre has advised BKW-FMB on its entry into the French market for low-carbon electricity production, through the acquisition of hydroelectric power stations in Allevard
BKW-FMB has recently committed itself to purchasing, from Ascometal, the group of hydroelectric power stations in Allevard, near Chambery in the French Alps.
The purchase relates to four hydroelectric power stations with a total output of 30 MW and annual energy production of about 150 GWh. The transaction, whose value has not been divulged, has been submitted for the approval of the relevant French authorities.
BKW-FMB intends to develop low-carbon production facilities in France and to capitalise on its long experience in hydraulics, among other things. Besides the targeted purchase of authorised or franchised installations, it will participate in the tender processes which the French government is to launch over the next five years for the renewal of ten hydroelectric franchises representing total installed power of 5.244 MW. The first calls for tenders are expected to be made this year.
BWK-FMB was advised on the legal and tax issues surrounding this transfer of administrative permissions and assets (which followed a private call for tenders) by a multi-disciplinary team from CMS Bureau Francis Lefebvre. The team was led by Christophe Barthélemy and Jacques Isnard, and was made up as follows:
Energy & Public Law
Corporate / M&A
Property Law
Commercial Law
Law
Tax Law
The team worked in collaboration with BKW-FMB's project team and with its financial adviser, Ergos Energy Partners, through Laurent Grimaud (partner).
Ascometal was advised on the legal issues by Eversheds, through Eric Knaï (partner) and Olivier Guinard. Its financial adviser was Croissance Partenaires, through Julien Jérémie (partner) and Charles Huygues-Despointes.
For further information, please contact :
CMS Bureau Francis Lefebvre
Florence Jouffroy / Tel: +33 1 47 38 40 32
Laetitia Mostowski / Tel: +33 1 47 38 40 74
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