King & Wood Mallesons (KWM) is consolidating its position as a leading law firm in the Energy sector in Spain. The international law firm advised the Portuguese energy company EDP Group on the sale of its subsidiary Naturgás and on the Public Takeover Offer over EDP Renováveis to acquire the remaining 22.46% stake held in the market. Both deals are two of the largest transactions the Iberian Gas and Renewable Energy market has ever seen.
Roberto Pomares, Corporate Partner at King & Wood Mallesons, led the advice on the €2,591 million sale of Natugás - the second largest gas distribution company in Spain - to the consortium established by JP Morgan Infrastructure, Abu Dhabi Investment Council, Swiss Life Asset Managers and Covalis Capital. White Summit Capital and Covalis Capital coordinated the consortium.
Furthermore, EDP has announced the launch of a Public Takeover Offer over its subsidiary EDP Renováveis, a listed company on the Lisbon Stock Exchange, to acquire the remaining 22.46% stake held in the market. The deal is valued at €1,335 million. Carlos Pazos, Managing Partner at KWM - Madrid, was the lawyer in charge of the coordination of this advice, assisted by Corporate Partner Pablo Díaz.
Carlos Pazos noted that "without a doubt, these two transactions will be among the largest in the Gas and Renewable Energy Iberian markets. Additionally, both are a great sign of the recovery of the Spanish Energy market and another example of the interest of international investors in our country".
Roberto Pomares highlighted that "these deals are a new step in the consolidation of KWM as the leading law firm in Spain in the Energy sector. We have a multidisciplinary team of lawyers with different specializations (corporate, tax, regulatory, employment, etc.) all of them with several years of experience in Energy & Infrastructure".
