Watson Farley & Williams (“WFW”) has advised MPS Capital Services S.p.A. (“MPSCS”), acting as Lender, on the €23m refinancing of five photovoltaic plants managed by Octopus Energy Investments (“Octopus”) and located in Montalto di Castro in the Lazio region of Italy.

The plants, with a total capacity of 64 MW, are the first project of this size with grid parity in Italy and among the largest power plants in Europe.

International law firm CMS has advised UAE property developer Union Properties PJSC (UP) on the sale of its entire 50% stake in district cooling services provider Emicool to Dubai Investments PJSC for AED500m. Dubai Investments PJSC is now the sole owner of Emicool, having already owned 50% of Emicool prior to its latest purchase.

CMS Cameron McKenna Nabarro Olswang in Kyiv is pleased to announce that our law firm has recently advised the European Bank for Reconstruction and Development (EBRD) on improvement of energy efficiency of public buildings in Ukraine. The city of Kremenchuk in central Ukraine is the first municipality to receive funding under the EBRD’s Public Sector Energy Efficiency Financing Framework (PSEEF). EBRD will provide loan financing of up to €7.5m and a €1.5m grant to the Communal Enterprise “Kremenchuk Municipal Energy Service Company”.

Zurich | Baden – Axpo Holding AG (Axpo) has sold their participation in Elektrizitätswerk des Kantons Schaffhausen AG (EKS) to the Canton of Schaffhausen as part of a portfolio streamlining exercise.

In 2004 the Canton of Schaffhausen sold a 25% equity interest to Axpo Holding AG. Following a structured sale process implemented by Axpo in 2017, the Canton of Schaffhausen exercised its right of first refusal to acquire the participation at a price of 53 million Swiss francs.

At the beginning of 2018, ENERCON acquired the Dutch wind turbine manufacturer Lagerwey B.V. With this strategic investment ENERCON strengthens its portfolio in onshore wind turbines in all wind classes.

Stuttgart – The Swedish appliance company, Electrolux, has acquired Schneidereit GmbH.

A team from CMS Germany led by lead partner Dr Thomas Meyding advised Electrolux on all legal aspects of the transaction. The transaction is still subject to clearance by the competition authorities.

Schneidereit GmbH offers laundry machines and laundry systems, including service solutions for professional customers in Germany and Austria.

Brussels – The German Federal Court of Justice (BGH) has placed curbs on Germany’s leading food retailer, EDEKA, in its price negotiations with suppliers. In a landmark decision handed down on Tuesday, the Competition Senate overturned a ruling by Düsseldorf Higher Regional Court (HRC) that found in favour of EDEKA. The dispute involves “wedding rebates” that EDEKA sought to impose on around 500 suppliers after acquiring approximately 2,300 Plus discount stores from Kaiser’s Tengelmann.

KKR Completes Sale of Remaining Stake in Pets at Home Group Plc for £108 Million

The Firm represented affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”) on the sale of its remaining stake in Pets at Home Group Plc (“Pets at Home”). The secondary offering, which was effected pursuant to a block trade by way of an accelerated book build, raised gross sale proceeds of approximately £108 million.

Kirkland & Ellis LLP advised Comvest Credit Partners on its final close of Comvest Capital IV, L.P., and affiliated funds (the Fund) with total equity commitments of $836 million, exceeding the initial fundraising target of $650 million. Together with fund-level leverage, total available capital is expected to exceed $1.2 billion.

The Moscow and London offices of Debevoise & Plimpton LLP have advised the firm’s longstanding client PJSC Polyus (“Polyus”) on the issue by its indirect subsidiary Polyus Finance plc of $500 million guaranteed Eurobonds due 29 January 2024 with a coupon of 4.70% per annum (the “Notes”).