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RTPR and Dentons Advise on Engie's Sale of Flashnet to Lucy

RTPR and Dentons Advise on Engie's Sale of Flashnet to Lucy

Romania
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Radu Taracila Padurari Retevoescu has advised the Engie Group on its sale of an 80% stake in Flashnet to the Lucy Group. Dentons advised the buyer.

According to Dentons, the transaction also involved the sale of a minority package by two minority shareholders who remained in the business.

Flashnet is a Romania-based company that integrates IT, energy, and telecommunications technologies into hardware and software solutions, creating and implementing intelligent systems for urban infrastructure.

The Engie Group specializes in low-carbon energy and related services. The company employs over 170,000 people around the world.

The UK-headquartered Lucy Group and its subsidiary Lucy Zodion specialize in street lighting controls, smart lighting, and smart city technologies.

"We are very excited to join the Lucy Group and to unite our smart lighting business and expertise," Flashnet CEO Lorand Mozes commented. "I believe that our world-class technology, long-term vision together with Lucy Group’s growth strategy is a perfect match and creates a unique opportunity to become a global leader in the delivery of smart lighting solutions. More importantly, with the Lucy Group we share the mission to shape a more sustainable future for the next generations."

"The acquisition of a majority shareholding in Flashnet very much aligns with our strategic aim of creating a market-leading smart lighting business," Lucy Zodion Managing Director John Fox added. "Flashnet’s technology, markets, and capabilities are very complementary to Lucy Zodion’s, allowing us to combine the smart lighting elements of the businesses to deliver even better customer solutions, greater geographic coverage, and exciting composite business growth."

The RTPR team included Partners Mihai Ristici, Valentin Berea, and Roxana Ionescu, Managing Associate Marina Fecheta-Giurgica, Senior Associate Vlad Druta, and Junior Associate Flavia Mincu.

The Dentons team was led by Partners Cristina Daianu and Claudiu Munteanu-Jipescu and included Partners Tiberiu Csaki and Raul Mihu and Counsels Cristina Marcu, Argentina Rafail, and Elena Vlasceanu.

Dentons at a Glance

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Dentons is one of the leading law firms in CEE/CIS, with offices in Warsaw, Prague, Budapest, Moscow, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.

Firm's website.