Gómez-Acebo & Pombo and Pérez-Llorca have advised on the acquisition of 100% of the share capital of the companies Xallas Electricidad y Aleaciones (formerly Ferroatlántica) and Feroe Ventures & Investments, owned by the global investment firm Sixth Street, by Energo-Pro, a company specialized in hydroelectric generation based in the Czech Republic. To finance the transaction, Energo-Pro has obtained a €300m bridge loan from J.P. Morgan and Goldman Sachs.
Xallas operates ten hydroelectric power plants with a total capacity of 167 MW and two ferroalloy manufacturing plants. Faroe has applied for a concession for a hydro pumping project with a planned capacity of 400 MW. In 2022, the electricity production of the companies acquired by Energo-Pro was 386 GWh, recording revenues and EBITDA of €185m and €45m, respectively. With this transaction, the Czech firm expands its operations in Galicia, being one of the largest investments made in Spain by a Czech company.
The GA_P team has advised Energo-Pro and was led by Guillermo Guerra, partner of Mercantil, has been formed by Irene Carreño, Jorge Martín and Carlota Mazzucheli, from corporate, who have been supported by Irene Fernández-Puyol, Carlos Vázquez and Cristina Matía, partners and lawyer from public; Miguel Troncoso, partner of competition law; Ruth Ereño, associate of litigation and arbitration and the entire due diligence team.
Pérez-Llorca has advised Sixth Street and the team was formed by Javier Carvajal, corporate partner, Nasif Hamed, corporate partner, Elena Veleiro, public law partner, Ana Cremades, public law partner, Joaquín Abril-Martorell, corporate lawyer, Raquel Pérez Gargallo, corporate lawyer, Ignacio Carnero, corporate lawyer and Ignacio Buil, corporate lawyer.