Clifford Chance has advised Palero Invest, Luxembourg, on its acquisition of Vattenfall Europe PowerConsult from the Swedish Vattenfall AB energy group.
The closing of the transaction is subject to customary conditions.
Headquartered in Vetschau/Brandenburg (Germany) and employing a staff of around 535 employees, the VPC Group is a specialized service provider for engineering and laboratory services in the power plant and energy sector. The subsidiaries of VPC Group, Vattenfall Europe PowerConsult East d.o.o. in Belgrade, and Lausitzer Analytik GmbH Laboratorium für Umwelt und Brennstoffe in Spremberg (Germany), were also part of the transaction.
Vattenfall is one of Europe's largest generators of electricity and producers of heat. The Group has approximately 32,000 employees. The parent company, Vattenfall AB, is 100%-owned by the Swedish state.
The Clifford Chance team was led by Partner Christine Koziczinski and included Senior Corporate Associates Hendrik Rohricht and Stefan Bruder, Tax Partner Thorsten Sauerhering and Senior Associate Dominik Engl, and Real Estate Partner Horst Schlemminger.