Allen & Overy was instructed by Spain’s Gamesa on the acquisition of a 50 per cent stake in wind turbine manufacturer Adwen.
The stake in Adwen was acquired from Areva for €60 million.
An Areva statement said: “Following a three-month competitive bidding process aimed at obtaining and assessing offers from potential third-party investors, the board of directors of Areva decided to authorise Areva’s executive management to exercise the put option signed on June 17, 2016 and enable Areva to sell its shares in Adwen to Gamesa.”
The Allen & Overy team advising Gamesa was led by Iñigo del Val.
Adwen finished 2015 as the second largest wind turbine manufacturer in Europe with a market share of 18.2 per cent of the grid connected capacity, according to statistics published by the European Wind Energy Association.