Cuatrecasas advises AIMCo on Eolia acquisition

A Cuatrecasas team including New York-based partner Antonio Baena (pìctured) and Madrid partner Luis Pérez de Ayala advised Alberta Investment Management Corporation (AIMCo) on the recently completed acquisition of a 90 per cent stake in renewable energy company Eolia.

AIMCo was also advised by Linklaters. The stake was acquired from funds managed by Oaktree Capital Management, which instructed Pérez-Llorca on the deal. The deal was valued at €1.4 billion.

Eolia manages a 669 megawatt (MW) portfolio of renewable energy assets with “long-term contracted revenues under the Spanish renewables regulatory regime, and has an attractive pipeline of development opportunities in Spain”, a AIMCo statement said.

AIMCo is one of Canada’s largest institutional investment managers with more than CAD (Canadian dollars) $108 billion of assets under management.