International legal practice Osborne Clarke has advised investment manager Triple Point on the disposal of a portfolio of four operational solar farms with an aggregate capacity of 34.5MW.

The solar parks are expected to generate revenues of over EUR 4.4 million annually. All are located in the South of England and benefit from Renewables Obligation Certificates (ROCs), which provide support for a period of 20 years. Power from the parks will be sold under a long-term power purchase agreement (PPA).

Slaughter and May advised Bupa Insurance Limited on the sale of Bupa House, Bloomsbury Way, London  WC1A.  The purchaser is LabTech Investments Ltd, a real estate and technology company with existing holdings in the Holborn area.

Contacts

Real Estate: John Nevin (partner), Kate Shirlaw (associate)

Slaughter and May, has advised Nordea Bank AB (publ) (together with Citibank, N.A., London Branch and Skandinaviska Enskilda Banken AB as the Original Lenders) on the SEK 11 billion term facility agreement made available to Tele2 AB (publ) to finance a merger with Com Hem Holding AB (publ).

Slaughter and May worked as a team with Nordea’s in-house counsel in Sweden.

Contacts

Stephen Powell (partner), George Silber (associate), David Hay (associate), Polly Streather (trainee)

TLT has helped German-headquartered Novoferm Europe Limited expand its operations with the acquisition of UK-based Bolton Gate Services Limited.
Novoferm – the European subsidiary of Tokyo-listed Sanwa Shutter Corporation and one of Europe's largest suppliers of entrance solutions – has acquired 100% of Bolton Gate Services – a leading provider of 24/7 door and shutter maintenance and repair services across the UK.

Watson Farley & Williams (“WFW“) has advised Omoove, a fully-owned subsidiary of Octo Telematics (“Octo”), on the launch of its innovative online platform Sharemine.

Sharemine facilitates the creation and management of online car and ride sharing mobile communities. With this new project, Octo aims to help customers save on car ownership and rising insurance costs, and use telematics technology to make roads safer and more environmentally friendly.

Watson Farley & Williams (“WFW”) advised Dutch investor Maas Capital Renewables, part of ABN AMRO Private Equity, on the circa €38m refinancing of its solar portfolio comprising of six ground-mounted photovoltaic plants.

The plants, with a total installed capacity of 15.6 MWp, are located in the Molise, Puglia and Lazio regions of Italy.

Clifford Chance Moscow team has advised a syndicate of banks on the EUR150 million Russian law syndicated facility for PJSC Chelyabinsk Pipe plant (ChelPipe), the leading Russian manufacturer of tubular goods and the provider of integrated solutions for fuel and energy companies.

The deal was closed as a four-year unsecured facility. Raiffeisenbank, Commerzbank, UniCredit, Rosbank, ICBC and Agricultural Bank of China Limited acted as Mandated Lead Arrangers. Raiffeisenbank acted as Documentation Agent and Facility Agent for the Facility.

Leading international law firm Clifford Chance has advised Australian-Chinese developer, owner and operator of renewable power generation assets Maoneng Australia (Maoneng) on its entry into a Power Purchase Agreement (PPA) with the University of New South Wales (UNSW) and on related agreements with Origin, who is providing firming and other services to UNSW.

The PPA relates to the 200 megawatt (MW) Sunraysia Solar Farm, located near Balranald in south-western NSW, owned and developed by Maoneng.

Clifford Chance advised ABN AMRO on its successful restructuring of business divisions ABN AMRO Lease and ABN AMRO Commercial Finance into one division with the name ABN AMRO Asset Based Finance. The restructuring consisted of four mergers, of which two mergers were cross-border mergers, and CC advised on Corporate, Regulatory and Employment matters. The restructuring was successfully completed on 1 January 2018.

Clifford Chance has advised Frasers Property Investments Europe on the acquisition of a logistics facilities package for EUR 257 million. The package comprises six Hermes logistics centres with rental space totalling around 75,500 square metres on a site of about 426,500 square metres. It was sold by German real estate investor ECE Projektmanagement GmbH & Co. KG.