Slaughter and May and De Brauw Blackstone Westbroek advised Ørsted on the deal. Eversheds Sutherland advised Norges Bank Investment Management.
Ørsted disposed a 50% interest in the 752 MW Borssele 1 & 2 Offshore Wind Farm to Norges Bank Investment Management (NBIM).
The Borssele 1 & 2 Offshore Wind Farm lies 23km off the coast of Zeeland in the Netherlands. It was commissioned in Q4 2020 and is the largest operational offshore wind farm in the Netherlands and the second largest operational offshore wind farm in the world, generating green power in an amount equivalent to one million Dutch households’ annual power consumption.
The total value of the transaction is approximately EUR 1.375 billion.
The divestment to NBIM is subject to regulatory approvals. Closing is expected around summer 2021.
Slaughter and May’s team included Azadeh Nassiri (Picture), Partner, Richard Todd, Partner, Adrian Barrus, Senior Counsel, Bronwen Hutchison, Associate, Rory Botros, Associate, Adam Burk, Associate, Iain McCann, Associate, Daniel Mewton, Associate, Nicole Hunter, Associate, Jessica O’Sullivan, Associate, Mary Kiernan, Trainee, Gareth Miles, Partner, Sarah Osprey, Associate, Lisa Wright, Partner and Anders Jay, Associate.
Eversheds’ team was led by Miriam van Ee and Werner Brickwedde; other key partners were Martin Weitenberg, Partner, Commercial and Energy; and Michel Chatelin, Partner, Competition. The deal team also consisted of Alexander Dartsch, Counsel, Corporate; Rene van ’t Hoft, Counsel, Energy; Yannie Lam, Senior Associate, Corporate; Natascha Geraedts, Partner, Planning; Marc Anker, Legal Director, Corporate Notarial; Christine Strating, Associate, Planning; Fons Leijten, Associate, Commercial; Stefan Engel, Associate, Commercial; Maximilian Spitzhorn-Stork, Associate, Corporate; Sharon Edoo, Associate, Finance; Carlos Henriquez Cubas, Associate, Corporate Notarial; and Taoufik Yekhlef, Senior Associate, Employment.
Eversheds Sutherland’s team was supported by VanLoman in respect of tax issues. The VanLoman team included: Jochem Kin, Partner; Olaf van Grieken, Partner; and Annemarie van den Broek, Tax Manager.
Involved fees earner: Marc Anker – Eversheds Sutherland; Werner Brickwedde – Eversheds Sutherland; Michel Chatelin – Eversheds Sutherland; Alexander Dartsch – Eversheds Sutherland; Sharon Edoo – Eversheds Sutherland; Stefan Engel – Eversheds Sutherland; Natascha Geraedts – Eversheds Sutherland; Yannie Lam – Eversheds Sutherland; Fons Leijten – Eversheds Sutherland; Maximilian Spitzhorn-Stork – Eversheds Sutherland; Christine Strating – Eversheds Sutherland; Miriam Van Ee – Eversheds Sutherland; Martin Weitenberg – Eversheds Sutherland; Taoufik Yekhlef – Eversheds Sutherland; Adrian Barrus – Slaughter and May; Rory Botros – Slaughter and May; Adam Burk – Slaughter and May; Nicole Hunter – Slaughter and May; Bronwen Hutchison – Slaughter and May; Anders Jay – Slaughter and May; Iain McCann – Slaughter and May; Daniel Mewton – Slaughter and May; Gareth Miles – Slaughter and May; Azadeh Nassiri – Slaughter and May; Jessica O’Sullivan – Slaughter and May; Sarah Osprey – Slaughter and May; Richard Todd – Slaughter and May; Lisa Wright – Slaughter and May;