On January 19, 2024, Zepos & Yannopoulos announced that Enel’s sale of a 50% stake in Enel Green Power Hellas to Macquarie Asset Management (reported by CEE Legal Matters on August 18, 2023) had closed.
According to Zepos & Yannopoulos, “Macquarie Asset Management has acquired 50% of the share capital of Enel Green Power Hellas, a leading renewable energy developer and operator in Greece, with a current 566-megawatt portfolio of onshore wind, solar, and hydropower projects in operation or under construction across mainland and islands.”
As previously reported, Bahas Gramatidis & Partners and Gianni & Origoni advised Enel SpA on the sale. Koutalidis and Jones Day advised MAM. Zepos & Yannopoulos advised the four Greek systemic banks that provided funding.
According to the company's press statement, Enel Green Power Hellas operates 59 plants totaling 482 megawatts of installed capacity powered by wind, solar, and hydro, as well as six solar projects under construction for an overall capacity of 84 megawatts. EGPH is also developing a portfolio of wind and solar projects, and expanding its activities in innovative solutions such as storage and hybrid projects.
According to Bahas Gramatidis & Partners, the total enterprise value of EGPH was approximately EUR 980 million for the purposes of the transaction. The deal was valued at approximately EUR 345 million.
Macquarie Asset Management is a global infrastructure investor with assets under management of almost EUR 500 billion.
Enel SpA is an Italian multinational producer and distributor of electricity and gas.
The Bahas Gramatidis & Partners team was led by Senior Partner Yanos Gramatidis and included Senior Associates Popi Papantoniou and Alexandros Sarris, Associates Valeria Kokkinou, Evelina Dafni, and Charilaos Agathos, and Trainee Associate Maria-Christina Gramatidis.
The Koutalidis team included Managing Partner Nikos Koritsas, Partners Yiannis Loizos, Evangelos Courakis, and George Naskaris, Senior Associate Dora Karagiorgou, and Associates Spyros Roussakis, Konstantinos Papakonstantinou, Evangelos Mylonas Tsoumas, Dimitra Rossopoulou, and Giota Thivaiou.
The Zepos & Yannopoulos team included Partner Paris Tzoumas, Senior Associate Niki Ignatidi, and Associates Dimitra Androulakaki and Katerina Chalka.