International law firm Simmons & Simmons have advised Commerzbank Aktiengesellschaft on the sale of the on-shore wind parks Haute Epine and Bussions in France from Volkswind GmbH to EB Renewable Energy Fonds Europe (EB). The purchase price shall not be disclosed.
EB is a subsidiary of the evangelic church. Volkswind, which will remain responsible for the technical and commercial operation of the wind parks, is part of the Axpo group, an energy utility with its headquarter in Switzerland. Commerzbank initially financed the construction of both wind parks under long-term financings which will, after the sale, remain in place and will be continued by EB as the new owner of the wind parks.
Lead Partner, Dr Jens Gölz commented:
“I am very proud to have advised my long-standing client Commerzbank over the entire life cycle of these financings: from the due diligence stage, to the financing, including ongoing advice and, finally, the change-of-control procedure.”
The Simmons & Simmons LLP comprised of Dr Jens Gölz (Partner, lead, Frankfurt), Céline Larmet (Partner, Paris), Yves Baratte (Partner, Paris), Marlin Jürgens (Associate, Frankfurt), Mathilde de Brugerolles (Associate, Paris) and Morgan Nussbaum (Associate, Paris).
