WFW advises Cerberus on Renovalia´s sale to F2i

Watson Farley & Williams has advised an affiliate of Cerberus Capital Management on its sale of Renovalia Energy Group to F2i

The transaction, which marks F2i’s, one of Italy’s largest Infrastructure and Energy funds, entry into the Spanish market, was closed on April 21, 2020. As transaction legal advisors to Cerberus, WFW advised on the vendor’s due diligence process as well as drafting and negotiating the Share Purchase Agreement (SPA) with the buyer and F2i subsidiary EF Solare.

WFW previously advised Cerberus and Renovalia on a number of strategic transactions, including the acquisition of Renovalia by Cerberus, follow-on acquisitions and financings in Spain and internationally, and the divestment of Renovalia’s 175MW portfolio comprising six Spanish wind farms to Ardian in December 2019.

Cerberus is a leading international fund manager with over $42 billion under management worldwide. Renovalia is a key player in the Spanish and international Renewable Energy markets, with an asset portfolio of approximately €1.4 billion.

The WFW Madrid team advising on these transactions was led by Corporate partner and Madrid office head María Pilar García Guijarro (pictured), working closely with associates Javier Ruffin and Enrique Thomas de Carranza, among others.

Uría Menéndez acted for F2i as buyer’s counsel.