DLA Piper and RCD on €204M Factor Energía stake sale
DLA Piper has advised Marubeni Corporation, one of Japan’s diversified companies, through its subsidiary SmartestEnergy, on the acquisition of a majority stake in Factor Energía, one of Spain’s independent energy suppliers. RCD has advised Factorenergia and its founder, Emili Rousaud, on the sale.
The transaction was completed on 14 April 2026, after obtaining approval from the relevant European and Spanish authorities. The deal is valued at €204 million.
The deal involved implementing shareholder arrangements with Emilio Rousaud, the founder of Factorenergia, who remains a shareholder and CEO and will continue to be involved in delivering the further growth of the company.
Multijurisdictional complexity
The transaction involved significant multinational complexity as Factorenergía and its subsidiaries operate in multiple jurisdictions across three continents. DLA Piper provided or coordinated advice covering Spain, Portugal, the UK, Mexico, Morocco, Colombia, Brazil, Chile and Bulgaria, with multidisciplinary teams working on all regulatory, corporate and competition aspects.
The team
The international team at DLA Piper that advised on the transaction consisted of David Beech, partner (UK), Pablo Echenique, partner and head of Energy at the Madrid office; Héctor Gómez, legal director (Madrid); and Marcos Gil, María Fernanda Fernández Antonuccio and Nerea López, associates (each in Madrid). They were supported by the DLA Piper offices in Lisbon (Joao Costa), Santiago de Chile (Diego Peña), Casablanca (Benoit de Monval) and Mexico (Mauricio Valdespino).
The RCD team advising on the transaction was led by Adolf Rousaud and Javier Calzada.
