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Schoenherr and Dentons Advise on Sale of ContourGlobal's Czech Solar Energy Business to CEE Equity Partners

Schoenherr and Dentons Advise on Sale of ContourGlobal's Czech Solar Energy Business to CEE Equity Partners

Czech Republic
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Schoenherr has advised ContourGlobal erneuerbare Energie Europa GmbH ("ContourGlobal"), a subsidiary of the US entity ContourGlobal L.P., on the sale of its solar energy business in the Czech Republic to China Central and Eastern Europe Investment Co-operation Fund SCS SICAV-SIF (the "China-CEE Fund") via CEE Equity Partners Ltd. Dentons advised CEE Equity Partners on the deal.

The deal was structured as a share deal with the China-CEE Fund acquiring three solar power plants with a total capacity of 6.0 MWp in the Czech Republic. The closing of the transaction took place in November, and financial terms were not disclosed.

ContourGlobal L.P. is a power-generation company with approximately 4,200 MW in operations in 20 countries on three continents. The company’s 2000 employees operate a portfolio of 61 thermal and renewable power plants utilizing a wide-range of technologies.

"The transaction illustrates the growing influx of Chinese investment into the renewable energy sector and is a positive sign for solar energy business in general," said Schoenherr Czech partner Vladimir Cizek, who advised ContourGlobal on the transaction.

Polish-based CEE Equity Partners Ltd is the investment advisor to the China-CEE Fund with committed funds of USD 435 million. The China-CEE Fund was established by China Exim Bank in partnership with other institutional investors from the CEE region, to identify and partner with dynamic businesses. A more thorough consideration of CEE Equity Partners can be found here

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