Clifford Chance has advised palero invest, Luxembourg, on its acquisition of Vattenfall Europe PowerConsult GmbH (VPC) from the Swedish energy group Vattenfall AB. The closing of the transaction is subject to customary conditions.

Headquartered in Vetschau/Brandenburg (Germany) and employing a staff of around 535 employees, VPC Group is a specialised service provider for engineering and laboratory services in the power plant and energy sector. VPC also has offices in Berlin, Leipzig, Dresden, Hamburg, Spremberg and Jänschwalde. The subsidiaries of VPC Group, Vattenfall Europe PowerConsult East d.o.o., Belgrade (Serbia), and Lausitzer Analytik GmbH Laboratorium für Umwelt und Brennstoffe  (LAG GmbH), Spremberg (Germany), are also part of the transaction.

Vattenfall is one of Europe's largest generators of electricity and producers of heat. The Group has approximately 32,000 employees. The parent company, Vattenfall AB, is 100%-owned by the Swedish state.

The Clifford Chance team was led by partner Christine Koziczinski and comprised senior associates Dr. Hendrik Röhricht and Stefan Bruder (all Corporate), partner Thorsten Sauerhering and senior associate Dr. Dominik Engl (both Tax) – all Frankfurt – and partner Dr. Horst Schlemminger (Real Estate, Munich).

Christine Koziczinski and Dr. Hendrik Röhricht recently advised palero invest on the acquisition of Heidrive GmbH & Co KG, a manufacturer of electric motors, from Heidolph Group.