Wolf Theiss is advising listed Italian energy company ERG and Russian oil major Lukoil on the complex separation of LUKERG Renew, an Austrian-based 50-50 joint venture between ERG Renew and LUKOIL created in 2011 with a view to investing in the wind sector throughout the CEE region.

The companies have mutually agreed to dissolve the joint venture, with consequent sharing of the assets. Wolf Theiss, which previously advised the joint venture on the acquisition, development and financing of its wind farms in Bulgaria and Romania, comprising in total 208 MW of installed capacity, is advising, with separate teams, the shareholders on the separation.

The transaction, which was signed on 25 June 2015 is expected to close by the end of this year following satisfaction of certain conditions.

ERG Renew is advised by Richard Clegg, Eva Fischer, Christian Hammerl, Ileana Glodenau, Jasmina Uzova, Mircea Ciocirlea, Tudor Botea and Claudia Chiper. Lucia Monti was the responsible in-house lawyer of ERG Renew.

LUKOIL is advised by Christian Hoenig, Doris Buxbaum, Radu Simion, Rebeka Kleytman, Diana Stetiu and Gergina Kyoseva. Robert Gulla was the responsible in-house lawyer of LUKOIL.

Wolf Theiss partners Christian Hoenig and Richard Clegg commented, "Having worked for LUKERG throughout the development of its operations in Bulgaria and Romania we are very pleased to be trusted by ERG Renew and Lukoil now to assist impartially and practically in this complex restructuring which involves the equitable split of multiple project companies, shareholder and senior loans across three jurisdictions"