José Ramón Berecibar

Cuatrecasas on the sale of the Dos Grados renewables platform

Cuatrecasas advised JB Capital, Sidenor and Loreto Mutua on the sale of the renewable energy platform Dos Grados to the British private equity firm Intermediate Capital Group (ICG), which has closed the acquisition through its new infrastructure fund.

José Ramón Berecibar, a partner of the law firm, has highlighted that “in the sale and purchase, the interests of the sellers have been aligned by structuring the divestment in an optimal way”. With this transaction, the three partners close a cycle that began almost four years ago with the launch of Dos Grados in the Spanish market by JB Capital.

For the buyer, this transaction represents its first investment in Spain through its infrastructure strategy and its entry into the renewables sector in Spain. ICG has taken almost all of the platform’s share capital, reserving a small part of the shareholding for its management team.

The Cuatrecasas team in the Basque Country was made up of lawyers José Ramón Berecibar (pictured), Santiago Bayo and Ane Agirretxea in the Commercial area, and Elvira Azaola in the finance and tax area.