Weinhold Legal and Norton Rose Fulbright have advised Tauron, a major Central European energy company, on the creation of a joint-venture with ArcelorMittal.
Both companies will hold 50% stakes in Tameh Holding, the newly created joint-venture vehicle, which will operate heat and power stations in Poland (TAMEH Polska) and the Czech Republic (TAMEH Czech). Tauron is Poland’s second largest utility company, and ArcelorMittal is the world’s largest steelmaker. ArcelorMittal is already a Tauron customer in Poland, a Tauron press release stated, and the deal will help secure that relationship, while also cutting costs for the steelmaker.
Tameh will control two of Tauron's power stations, ZW Nowa and Elektrownia Blachownia, and two of ArcelorMittal's heat and power cogeneration stations - one in the Polish city of Krakow and one in the Czech city of Ostrava.
The agreement between the companies closed on August 11, 2014 for a period of 15 years with the ability to extend it in the future.
Norton Rose Fulbright’s Warsaw team was led by Energy Partner Rafal Hajduk, assisted by Adam Kozlowski, Artur Jonczyk, Grzegorz Filipowicz, Konrad Kosicki, Michal Blaszkiewicz, Natalia Jankowska, and Jan Grochowicz.
Weinhold Legal’s role included "due diligence and assistance related to the contractual documentation governed by Czech law.” The firm’s team was led by Partner Daniel Weinhold, in cooperation with Managing Attorney-at-law Lukas Zahradka, among others. Weinhold commented that: "We are very pleased to have assisted in another significant transaction in the energy sector. The scope of our engagement and the ambitious time schedule required considerable effort by our experienced team.”