Watson Farley & Williams (“WFW”) successfully advised Cerberus Capital Management L.P. (“Cerberus”) on the acquisition of 100% of the share capital of Renovalia Energy, S.A. for €1 billion (enterprise value). This represents one of the largest ever completed deals in the Spanish renewables sector to date.

Cerberus Capital Management is a leading international fund manager with US$29 billion currently under management worldwide. Renovalia Energy is a key player in the Spanish and international renewable energy markerts, with a 1700 MW projects portfolio spread across seven countries in North America and Europe.

The WFW Spanish corporate team advising Cerberus on the transaction was led by Madrid Managing Partner and Corporate Head María Pilar García Guijarro, assisted by senior associates Ana Lorenzo and Javier Ester and associate Rosana Segado. Partners Luis Soto and David Diez advised on tax and regulatory matters respectively. The team also worked closely with WFW lawyers in the United States and Italy, as well as local counsel in Chile, Mexico, Hungary and Canada.

María commented: “I am delighted that WFW was able to assist a leading international investor such as Cerberus on this important transaction. This deal confirms both the attractiveness of the Spanish renewables industry as a prime investment opportunity and WFW’s position as the leading law in Spain in the sector”.