Clifford Chance has advised the Genser Energy Group on the deal.
OP Energy Holdings Limited, a 100% subsidiary of Oppenheimer Partners Limited, will invest USD125m to subscribe for 125,000 units of redeemable convertible preference shares in a newly formed parent company, Genser Energy Investments LLC (“GEIL”) in Delaware, United States.
This investment comes a year after a USD366m financing for Genser Energy’s expansion in Ghana which included a new syndicated senior loan facility and a mezzanine loan. Genser’s expansion in Ghana has been a demonstration of the growing focus on independent energy solutions providers in the commercial and industrial sector that are able to deliver energy to consumers efficiently and reliably.
The preference share proceeds will primarily be used to fund Genser Energy’s expansion in West Africa and partly redeem existing preference shares.
The deal team was led by John Wilkins (Picture) and Olamide Oladosu in London and assisted in London by Prakruthi Gowda, Yemi Adekoya and Boma George (Energy & Infrastructure) and in New York by Matthew Warner and Hanah Kim (Corporate), John McManmon (Finance) and Jason Sacks (Tax).
Involved fees earner: Yemi Adekoya – Clifford Chance; Prakruthi Gowda – Clifford Chance; Hanah Kim – Clifford Chance; John McManmon – Clifford Chance; Olamide Oladosu – Clifford Chance; Jason Sacks – Clifford Chance; Matthew Warner – Clifford Chance; John Wilkins – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Genser Energy;