5N Plus’ Acquisition of AZUR SPACE Solar Power

Dentons and Luther advised 5N Plus, while Latham & Watkins advised Renewable Investments Holding SA in the transaction.

5N Plus Inc., a leading global producer of specialty semiconductors and performance materials, has entered into an agreement with AZUR SPACE Solar Power GmbH (AZUR) to acquire all of the issued and outstanding shares of AZUR, from Renewable Investments Holding SA (which is controlled by a leading European insurance group) for an expected total purchase price between €73-79 million subject to prevailing closing adjustments. The transaction is subject to the customary closing conditions, including regulatory approvals.

Located in Germany, AZUR is a global leader in developing and manufacturing multi-junction solar cells for space and terrestrial concentrated photovoltaic applications. Headquartered in Montréal, 5N Plus operates R&D, manufacturing and commercial centers in several locations in North America, Asia and Europe. The integration of AZUR will not only expand the 5N Plus’ position within renewable energy, but, through Canada’s membership in the European Space Agency (ESA), will also establish the company as a reliable and competitive supplier to the European and US space programs.

Dentons advised 5N Plus with a cross-border team led by John Papagiannis (Picture), Scott Rozansky (M&A/Securities) and Marc-André Bélanger (Tax/M&A), and which includes Philippe Bergeron (M&A/Securities), Sabrina Gravel (Tax/M&A), Joel Cabelli, Bin Zeng, Angela Spano (Financing) in our Montréal office as well as Thomas Schubert (M&A) and Maria Brakalova (Regulatory) in our Berlin office.

The Latham team advising Renewable Investments was led by London corporate partner Nick Benson, with associates Medha Marathe, Janine Leeder and Róisín Mbonu. Advice on German law aspects was provided by Hamburg associate Daniel Kreutzmann and counsel Jana Dammann.

The Luther team was led by Dr Benjamin Hub and Guido Wenzel and further included Dr Sonja Daniela Kellermann,  Lena-Annika Schultz, Frances Wolf, Franz Kauer, Dr Alexander Mönnig, Anne Caroline Wegner, Dr Kay Oelschlägel, Samira Altdorf, Dominik Menhaj, Dr Daniel Bischof, Dr Volker Schneider, Sandra Sfinis, Dr Gernot-Rüdiger Engel, Dr Mathias Mailänder, Christoph Schnoor and Volkan Top.

Involved fees earner: Marc-André Bélanger – Dentons; Philippe Bergeron – Dentons; Maria Brakalova – Dentons; Joel Cabelli – Dentons; Sabrina Gravel – Dentons; John Papagiannis – Dentons; Scott Rozansky – Dentons; Thomas Schubert – Dentons; Angela Spano – Dentons; Bin Zeng – Dentons; Nick Benson – Latham & Watkins; Jana Dammann de Chapto – Latham & Watkins; Daniel Kreutzmann – Latham & Watkins; Janine Leeder – Latham & Watkins; Róisín Mbonu – Latham & Watkins; Samira Altdorf – Luther Rechtsanwaltsgesellschaft mbH; Daniel Bischof – Luther Rechtsanwaltsgesellschaft mbH; Gernot-Rüdiger Engel – Luther Rechtsanwaltsgesellschaft mbH; Benjamin Hub – Luther Rechtsanwaltsgesellschaft mbH; Franz Kauer – Luther Rechtsanwaltsgesellschaft mbH; Sonja Daniela Kellermann – Luther Rechtsanwaltsgesellschaft mbH; Mathias Mailänder – Luther Rechtsanwaltsgesellschaft mbH; Dominik Menhaj – Luther Rechtsanwaltsgesellschaft mbH; Alexander Mönnig – Luther Rechtsanwaltsgesellschaft mbH; Kay Oelschläge – Luther Rechtsanwaltsgesellschaft mbH; Volker Schneider – Luther Rechtsanwaltsgesellschaft mbH; Christoph Schnoor – Luther Rechtsanwaltsgesellschaft mbH; Lena-Annika Schultz – Luther Rechtsanwaltsgesellschaft mbH; Sandra Sfinis – Luther Rechtsanwaltsgesellschaft mbH; Volkan Top – Luther Rechtsanwaltsgesellschaft mbH; Anne Caroline Wegner – Luther Rechtsanwaltsgesellschaft mbH; Guido Wenzel – Luther Rechtsanwaltsgesellschaft mbH; Frances Wolf – Luther Rechtsanwaltsgesellschaft mbH;

Law Firms: Dentons; Latham & Watkins; Luther Rechtsanwaltsgesellschaft mbH;

Clients: 5N Plus; Renewable Investments Holding;

Martina Bellini

Author: Martina Bellini