Sale of controlling stake and structuring of joint venture

Our team has assisted in a sale of UAB Eurakras, owner of 24 MW wind park.

Our team represented the sellers of the target – UAB Renagro (investment holding company) and BaltCap (leading private equity and venture capital investor in the Baltics) in selling their controlling stake and structuring of the joint venture via shareholders agreement.The target was acquired by Lietuvos energija, UAB – one of the largest state owned companies group conducting its activities in various energy sectors. By the acquisition of the target, the buyer is able to approach one of its strategic directions – expansion of production and diversification.

Our team, being one of the early entrants in assisting the players in the rapidly evolving wind energy sector, advised the client in all stages of the transaction. Our firm participated in negotiations which required extensive legal knowledge in various legal matters as the energy industry is considered complex by its nature. We were also involved in drafting the main document of the transaction – the share purchase agreement, alongside to all the supporting documents and necessary schedules. The M&A team also provided legal assistance in negotiating and drafting the shareholders agreement, which shall be the guidelines to conducting the future activities of the target. Eventually, the M&A team led the successful closing of the deal. Completion of this deal allowed the M&A team to strengthen its position as one of the leading legal advisors in the renewable energy market.