Simpson Thacher & Bartlett advised investment company KKR on the acquisition of an 80 per cent stake in the Spain-headquartered business Gestamp Asetym Solar.
The investment was valued at €544 million, according to Mergermarket data.
The transaction values Gestamp Solar at around $1 billion.
A Gestamp statement said both partners have committed to “fully support Gestamp Solar´s ambitious strategic plan to have in operation up to 2.5GW of installed capacity by 2020”.
Gestamp Solar, founded in 2005, is present in 18 countries and has 300 MW of photovoltaic (PV) projects in operation or in construction, with a further 2.2 GW of PV projects in development.