Scatec Solar ASA’s Acquisition Of SN Power AS


King & Spalding LLP advised Scatec Solar ASA on the deal.

Solar ASA, a leading publicly-listed solar power producer with its headquarters in Oslo Norway, announced the negotiation and signing of an agreement to acquire 100% of the shares in SN Power AS, a leading hydropower developer and independent power producer, for a total equity value of $ 1.166 Billion, from Norfund. Scatec Solar will fund the acquisition through a combination of cash available from its balance sheet, a $ 200 Million vendor note, a $ 150 Million term loan and a $ 700 Million acquisition financing made available by a club of Nordic banks and BNP Paribas. The transaction will transform Scatec Solar into a global leader in renewable energy.

The King & Spalding team was led by Evelina Petraviciute and also included Simon Cowled (Picture), Jill Cooper, Robin Bayley, Nikhil Markanday, Christina E. Tecson, Zoë Bromage, Marcus A. Young, Kelly Malone, Penelope Froggatt, Aaron C. Lee, Faye Wiles and Daniel J. Friel.

Involved fees earner: Robin Bayley – King & Spalding; Zoë Bromage – King & Spalding; Jill Cooper – King & Spalding; Simon Cowled – King & Spalding; Daniel Friel – King & Spalding; Penelope Froggatt – King & Spalding; Aaron Lee – King & Spalding; Kelly Malone – King & Spalding; Nikhil Markanday – King & Spalding; Evelina Petraviciute – King & Spalding; Christina Tecson – King & Spalding; Faye Wiles – King & Spalding; Marcus Young – King & Spalding;

Law Firms: King & Spalding;

Clients: Scatec Solar ASA;

Author: Michael Patrini