Cuatrecasas advised Martifer SGPS, S.A. on selling six photovoltaic plants in Spain (located in Huelva, Salamanca and Seville). The sale price to Finerge, a Portuguese group operating in the renewable energy sector, was €23.5 million.
An official press release issued by Martifer on December 18 stated, "this sale is part of the group’s strategy involving asset rotation, crystallization, debt reduction and reinforcement of the equity structure." Martifer Renovables is the group’s company specializing in developing and building renewable energy projects, particularly wind farms and photovoltaic energy plants.
Working on the transaction was a multidisciplinary Cuatrecasas team with crossborder experience, led by Mariana Norton dos Reis, coordinating partner of the Lisbon Corporate M&A Practice, and public law partner in Madrid, Luis Pérez de Ayala. Álvaro López de Ceballos, an associate in the Madrid M&A Practice, also participated.
Cuatrecasas is one of the most active law firms in M&A in Portugal, particularly in the energy sector. Since 2013, Cuatrecasas has been leading the Iberian market ranking for volume of transactions, according to financial information agency Mergermarket.