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Schoenherr has advised ContourGlobal erneuerbare Energie Europa, a subsidiary of the US entity ContourGlobal, on the sale of its solar energy business in the Czech Republic to China Central and Eastern Europe Investment Co-operation Fund via CEE Equity Partners.
The deal was structured as a share deal with the buyer acquiring three solar power plants with a total capacity of 6.0 MWp in the Czech Republic. The closing of the transaction took place in November. The financial terms of the transaction will not be disclosed.
Schoenherr was lead counsel to ContourGlobal and its enterprises in the Czech Republic.
ContourGlobal is an international power-generation company with approximately 4,200 MW in operations in 20 countries and on three continents. The company’s 2,000 employees operate a portfolio of 61 thermal and renewable power plants utilising a wide-range of technologies.
Polish-based CEE Equity Partners is the investment adviser to the China-CEE Fund with committed funds of $435m. The China-CEE Fund was established by China Exim Bank in partnership with other institutional investors from the CEE region, to identify and partner with dynamic businesses. The buyer was advised by Dentons.
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