Dentons is advising Mansa Investments sp. z o.o., the majority shareholder in Polenergia S.A. on an investment and shareholders agreement with BIF IV Europe Holdings Limited, an affiliate of Brookfield Renewable Partners L.P.
The investor, BIF IV Europe Holdings, acting in cooperation with the majority shareholder, intends to acquire a stake in the company through a public tender offer for 100 percent of the shares in Polenergia S.A. directed to the other shareholders, in a move to delist the company from the Warsaw Stock Exchange.
The investor has agreed to further support the development and growth of Polenergia with an injection of capital from a new issue of shares worth a total of €150 million, to be completed within two years of the company’s exit from the Warsaw Stock Exchange.
Partners Arkadiusz Krasnodębski, Head of the Energy group in Europe, and Jakub Celiński, Head of the Equity Capital Markets practice in Europe, led the Dentons team advising on the transaction. The team also comprises managing counsel Michał Wasiak, associate Agata Iżyk and associate Bartosz Juszczak from the Warsaw M&A practice. Partner Agnieszka Stefanowicz-Barańska, senior associate Maciej Marek and associate Kamil Bułakowski provided advice on competition law issues.
Polenergia is Poland’s largest private energy group, comprised of companies operating conventional and renewable energy generation facilities and active in the electricity distribution and trade sectors. Headquartered in Poland, it is present across Central Europe and in Germany.
BIF IV Europe Holdings Limited is an affiliate of Brookfield Renewable Partners L.P., which manages one of the world’s largest publicly-traded renewable power platforms, with a portfolio of ca. 19,300 MW of capacity and 5,031 generating facilities in North America, South America, Europe and Asia.