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Wolf Theiss Advises Ingka Investments in Acquisition of 80% Shareholding in Romanian Wind Farm Companies from Vestas Group

Wolf Theiss Advises Ingka Investments in Acquisition of 80% Shareholding in Romanian Wind Farm Companies from Vestas Group

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Wolf Theiss Bucharest has advised Ingka Investments on its August 28, 2019 acquisition of an 80% shareholding in seven companies owning wind power plants with an aggregate installed capacity of 171MW from Vestas Wind Systems A/S, which retains the remaining 20% shareholding. Reff & Associates reportedly advised Vestas on the transaction, which was valued at approximately EUR 136 million and is expected to close by the end of the year.

Ingka Investments is the investment arm of Ingka Group, one of 11 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments, and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, which operates 367 IKEA stores in 30 countries. According to Wolf Theiss, "the main investment target in renewable energy of the Ingka Group is to produce as much energy as consumed through its retail and real-estate operations."      

Wolf Theiss conducted due diligence of the seven target entities (generically known as the Pegasus, Apollo and Pantelimon projects) and coordinated the negotiation process for the structuring of the transaction, the signing of the MoU, the Sale Purchase Agreement, and the Shareholders' Agreement, as well as handling the necessary competition formalities.

The Wolf Theiss team was led by Partner Ileana Glodeanu and included Partner Claudia Chiper, Counsel Flaviu Nanu, Senior Associates Mircea Ciocirlea, Adina Aurel, Andreea Zvac, and Ligia Berbecar, and Associates George Ghitu, Andrei Salageanu, Alexandru Roman, Costin Salaru, Alexandru Asaftei, Andreea Anton, and Nina Lazar.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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