Reff & Associates — the Romanian arm of Deloitte Legal — has assisted Denmark's Vestas Wind Systems on the sale of 80% of its subsidiaries owning the Pantelimon, Pegasus, and Apollo wind power plants, to IRI Investments, a Romanian subsidiary of the Ingka Group. Wolf Theiss advised the buyers.
The transaction, which was valued at EUR 136 million, closed on October 21, 2019, following the approval of the Romanian Competition Council.
Vestas Wind Systems designs, manufactures, installs, and services wind turbines across the world and has wind turbines in 80 countries. The company was founded in 1945, and according to Reff & Associates, “as of 2013 it is the largest wind turbine company in the world.” It operates manufacturing plants in Denmark, Germany, India, Italy, Romania, the United Kingdom, Spain, Sweden, Norway, Australia, China, and the United States and employs more than 21,000 people.
The Reff & Associates team included Senior Managing Associate Diana Fejer, Managing Associate Anca Melinte, Senior Associates Ilinca Iliescu and Cristiana Baltag, and Associate Alexandru Ulici.
The Wolf Theiss team was led by Partner Ileana Glodeanu and included Partner Claudia Chiper, Counsel Flaviu Nanu, Senior Associates Mircea Ciocirlea, Adina Aurel, Andreea Zvac, and Ligia Berbecar, and Associates George Ghitu, Andrei Salageanu, Alexandru Roman, Costin Salaru, Alexandru Asaftei, Andreea Anton, and Nina Lazar.
