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Clifford Chance advises DEG, Finnfund and Proparco on US$135 million financing for telecom energy projects in West Africa

Tue, 17 Jun 2025 13:10:33 GMT

The development financiers provided a first US$55 million long-term loan to IPT Powertech Group in 2019. Most recently, DEG, Finnfund and Proparco announced the financial close of another US$80 million DEG-led syndicated facility for the IPT Powertech Group. The recent financing supports working capital and capital expenditure for telecom energy projects in several developing jurisdictions including Guinea, Guinea-Bissau, and Sierra Leone.

IPT Powertech Group invests in decentralised energy solutions for mobile network operators in Africa and the Middle East. The company delivers hybrid energy solutions - solar, batteries, and generators - for mobile networks, cutting costs and CO2. Optimized hybrid solutions reduce energy use by up to 40% and lower diesel reliance through a shift to solar energy.

The Clifford Chance team advising the lenders on this transaction was led by partner Anna Thwaites and comprised of counsel Jason London, senior associate Jan Adriaan Botha and trainee solicitor Colette Butler (all Global Financial Markets, Frankfurt).

Clifford Chance Advises Partners Group on Acquisition of Premium Pet Food Company MPM Products from 3i

Tue, 17 Jun 2025 12:01:00 GMT

MPM operates market leading premium wet cat food brands, including Applaws, Reveal and Encore. MPM sells its products in over 50 countries and maintains sales channels across e-commerce and retail stores.

Partners Group will work with MPM's experienced management team to accelerate the Company's future growth. Key value creation initiatives will focus on further expanding sales in MPM's largest markets, building operations in new markets, and reinforcing supply chain resilience.

The PE team advising Partners Group is led by UK Private Equity Head Spencer Baylin, Senior Associates Mark Inkester, Victoria Ho and Joshua Higgins and Associates, Eleanor Burkin, Angus Hancock and Sebastian de Boer.

Other teams advising on the transaction included: Tax partner Nicola Hemsley and senior associate Kirsten Hunt, Incentives partner Sonia Gilbert and associate Leon Kidd, Finance partner Richard Day and associate Joshua Malek, Antitrust partner Jennifer Storey, counsel Shruti Hiremath and associate Emmanuel Goriola, Tech Digital partner Zayed Al Jamil and senior associate Midori Takenaka, Employment partner Alastair Windass and senior associate Kristen Hammond, Regulatory partner Gunnar Sachs and associate Niklas Heinkes, Litigation partner Michael Lyons and senior associate Hannah Ovaisi, IP partner Don McCombie and associate Hayley Kwan, Derivatives partner Paget Dare Bryan and senior associate Rachel Robertson and Real Estate partner Alis Pay and associate Madison Hughes.

Clifford Chance advises the initial purchasers on Vår Energi's US$1.5 billion dual-tranche senior notes offering

Mon, 16 Jun 2025 14:05:23 GMT

Vår Energi is a leading independent upstream oil and gas company on the Norwegian Continental Shelf, with a diversified asset portfolio and a strong exploration track record. The company is committed to safe and responsible operations, aiming to become carbon neutral in its net equity operational emissions by 2030.

The Clifford Chance team advising on the transaction included partners Michael Dakin and Trevor Lavelle, counsel Laura Scaglioni, and associate Sarah Wetzel.

Clifford Chance advises dealers on Amvest RCF Custodian B.V.'s issuance of €300 million green fixed rate notes under its €1,5 billion Euro Medium Term Note Programme

Mon, 16 Jun 2025 10:07:00 GMT

Global law firm Clifford Chance advised ABN AMRO, BNP PARIBAS, ING and SMBC (as dealers) in connection with the issuance by Amvest RCF Custodian B.V. of €300 million green fixed rate notes under its €1,5 billion Euro Medium Term Note Programme.

The notes are listed on the Global Exchange Market of Euronext Dublin. The proceeds of the notes will be used to finance and/or refinance eligible assets in accordance with the sustainable finance framework of Amvest RCF Custodian B.V. Read more about the transaction here.

This transaction builds on Clifford Chance's market-leading Debt Capital Markets practice and expertise in international transactions and green financing. Clifford Chance advised ABN AMRO, BNP PARIBAS, ING and SMBC on all aspects of the notes issuance. The Clifford Chance team was led by Dewi Walian, and further consisted of Jurgen van der Meer, Marina Sarkisjan and Kris Soomers (Global Financial Markets) and Nolan Groenland, Robin Houtveen and Johan Anton Niesten (Tax).

Clifford Chance advises underwriters on €700 million hybrid bond issue by Südzucker and tender offer for its outstanding hybrid bond

Thu, 12 Jun 2025 15:24:23 GMT

Clifford Chance was not only involved in the 2025 hybrid bond issue by Südzucker but has advised on various past transactions of Südzucker, including its latest standalone bond in the beginning of 2025. Clifford Chance regularly advises on issues and tender offers of hybrid bonds.

In-house advice for Südzucker was provided by Cornelius Willer (Head of Treasury).

The Clifford Chance team was coordinated by partner Cristina Freudenberger and comprised of counsel Sebastian Maerker, counsel Henrik Gildehaus, and transaction lawyer Lilli Neubauer (all Capital Markets, Frankfurt).

Clifford Chance advises underwriters on €1.25 billion bond issue by ZF Friedrichshafen Group

Thu, 12 Jun 2025 11:37:00 GMT

The syndicate for this transaction was formed by Barclays, BNP PARIBAS, Citigroup Global Markets Europe, Commerzbank, Deutsche Bank, J.P. Morgan and UniCredit.

Clifford Chance already advised on previous transactions in relation to ZF Friedrichshafen Group.

The Clifford Chance team was led by partner Cristina Freudenberger and included counsel Henrik Gildehaus and transaction lawyer Felicitas Fischer (all Capital Markets, Frankfurt).

Clifford Chance has advised MEC Global Partners Asia, a member of the Mitsubishi Estate Group, on its acquisition of a minority stake in Sydney Place

Thu, 12 Jun 2025 08:52:00 GMT

Partner Philip Podzebenko led the deal, with support from associates Joshua Yan and Chloe Sherrington and law graduate Callum Florance. Partners Kai-Niklas Schneider and Chloe Cheng, and senior associate Natasha Kim advised on Singapore structuring.

Philip Podzebenko said, "This deal highlights Clifford Chance’s world-class cross-border collaboration, delivering outstanding results for clients deploying capital across jurisdictions. It is particularly significant for private capital investors seeking stable investment opportunities amid uncertain global market conditions."

"We wish MEC Global Partners Asia every success in their new investment and look forward to working with them again in the future."

Real estate is a rapidly growing sector for Clifford Chance’s Australia practice, with strong momentum in the living sectors — including purpose-built student accommodation, retirement living, build-to-rent, and disability accommodation — as well as premium commercial office transactions.

The firm recently advised Scape Australia, specialist living sector real estate investment and management firm, on the transformational conversion of the AUD1 billion Scape Core Fund, its flagship purpose-built student accommodation fund, into an open-ended pooled fund. Concurrently with conversion, two portfolios of PBSA properties were merged into the Scape Core Fund.

Clifford Chance secures High Court Win representing three (out of six) aircraft lessors in one of the largest ever insurance trials

Wed, 11 Jun 2025 16:17:00 GMT

On 11 June 2025, following a 12-week "mega trial," the Court handed down its judgment in a case concerning over $4 billion worth of aircraft stranded in Russia after the country’s invasion of Ukraine. The ruling provides long-awaited clarity for lessors nearly three years after more than 400 foreign-leased aircraft were detained by Russian authorities.

The decision is expected to have global ramifications, with similar proceedings underway in Ireland, the United States, and other jurisdictions. It also sets a significant precedent for political risk insurance holders across sectors amid rising geopolitical instability.

Clifford Chance led the case that the aircraft losses triggered coverage under the lessors’ "War Risks" insurance. The legal team was led by Partners Julian Acratopulo and Philip Hill, alongside Director of Insurance Litigation Baljit Rai, and with Partners Lindsay Bickerton, Sam Brown, and Claire Freeman. Senior Associates Alex Gabriel, Nicholas Harding and Ayla Ronald also advised.

Julian Acratopulo, comments:

“It’s a reassuring outcome not only for the aviation sector but for all policyholders who count on insurance to respond when it matters most. Putin's invasion of Ukraine and subsequent restraint of over 400 commercial aircraft was the paradigm scenario the owners thought that they had insured against. The ruling underscores the integrity and reliability of the UK courts in upholding contractual commitments, even when faced by multiple defendants with significant combined resources and the most complex circumstances imaginable.”

Clifford Chance advised Syensqo on its 1.2 billion euro-denominated Reg S senior bond issuance

Wed, 11 Jun 2025 14:30:19 GMT

EUR 600 million 3.375% bonds due 2031 at an issue price of 99.674%, and
EUR 600 million 4% bonds due 2035 at an issue price of 99.789%.

Syensqo is a science company which develops solutions that contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices and health care applications.

The proceeds of the issuance will be used by Syensqo for general corporate purposes and the bonds are listed and admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The Clifford Chance team consisted of Cédric Burford (partner), Alexander Tollast (counsel) and Baya Hariche (associate) in Paris, and Lounia Czupper (partner) and Sonia Belhassen (associate) in Brussels.

Clifford Chance advises BBVA on the financing of a 30 MW wind farm in Mexico

Wed, 11 Jun 2025 09:01:00 GMT

The Clifford Chance team taking part in the operation was led by Global Financial Markets Partner José Guardo, with the support of Senior Associate Antonio Sánchez-Cirujano and Associate Mariana Ceballos. The team also included the Paralegal Marta del Barrio.

Clifford Chance advises on €115 million secondary share placement for European defence company Theon International

Tue, 10 Jun 2025 12:09:13 GMT

The transaction was executed via a Rule 144A/RegS accelerated bookbuilding process and settled on 6 June 2025. The placement, which was upsized from initial indications due to strong investor demand, increases Theon’s free float to 30%, thereby enhancing the liquidity of its shares and opening the possibility for an index inclusion.

This marks the second placement of Venetus-held shares in Theon advised on by Clifford Chance, following a March 2025 transaction involving approximately 4.5% of the company’s share capital. Clifford Chance also advised Theon and its shareholders on the company’s IPO and listing on Euronext Amsterdam in February 2024.

The cross-border Clifford Chance team was led by partner George Hacket (Frankfurt), with support from partner Han Teerink (Amsterdam), counsel Andrei Manea (Frankfurt), and senior associate Marina Sarkisjan (Amsterdam, all Capital Markets). The team provided comprehensive legal advice on US and European securities laws, regulatory reporting, and MAR compliance.

Clifford Chance advises Avignon Capital on €34 million refinancing of Hilton The Hague

Tue, 10 Jun 2025 09:55:00 GMT

The three-year loan facility will aim to provide enhanced flexibility to support the long-term business plan for the hotel and marks a new lending partnership between the parties.

The asset is centrally located within The Hague’s embassy quarter, adjacent to the Noordeinde Royal Palace and the City’s main cultural and business attractions. Read more about the transaction here.

The Clifford Chance team was led by Liesbeth Buiter (Real Estate) and Herman Steinvoort (Global Financial Markets), and further consisted of Stephanie Proost, Berend Schoemaker and Liselotte Hommels (Real Estate), Jelle Hofland and Omid Barzegar (Global Financial Markets), Stern Flik (Tax), Charlotte Horsten (Notary) and others.

Clifford Chance advises Cecilien Palais S.à r.l. on the sale of Cecilienpalais in Düsseldorf

Tue, 10 Jun 2025 09:27:16 GMT

The four-storey office building with a natural stone façade is located in Cecilienallee 10, a prime Rhine location. It offers 3,245 square metres of rental space and is almost fully let. With its creditworthy, diversified tenant base, it generates a stable cash flow with value retention.The property also includes 60 car parking spaces in an underground car park.

The property was acquired for HIH Invest's special fund ‘Deutschland Selektiv Immobilien Invest II’, which focuses on energy-efficient office properties in attractive locations in German growth cities and in the top 7 locations.

The Clifford Chance team comprised partner Kristina Jaeger, counsel Jonathan Klein and associate Robin Rebecca Molitor (all Real Estate), partner Olaf Mertgen and counsel Steffen Waadt (both Tax, all Frankfurt). From the firm's Luxembourg office advised partner Katia Gauzès, senior associate Frédérique Davister and Trainee lawyer Marie Georg (all Corporate).

Clifford Chance advises Querstraße S.à r.l. on the sale of Frankfurt office property to Tikehau and Dunman

Tue, 10 Jun 2025 08:48:42 GMT

Located on Querstraße 8, 10 in Frankfurt's city centre, the property spans around 8,000 square metres. The building originally constructed in 1990 will be refurbished after existing leases expire in the next two years. Upon completion, it will offer 172 units designed for long-term stays or hotel operators.

The Clifford Chance team advising the seller comprised partner Kristina Jaeger, counsel Jonathan Klein and associate Robin Rebecca Molitor (all Real Estate), partner Olaf Mertgen and counsel Steffen Waadt (both Tax, all Frankfurt) as well as partner Katia Gauzès and senior associate Frédérique Davister (both Corporate, Luxembourg).

Clifford Chance advises Vantage Data Centers on Industry’s First Euro-Based Data Center Asset-Backed Securitization

Tue, 10 Jun 2025 07:50:00 GMT

The transaction includes an additional €80 million in unfunded Variable Funding Notes and follows Vantage’s success last year with the first-ever EMEA data center ABS completed in British pound sterling which Clifford Chance also advised on.

The cross-border Clifford Chance team advising was led by Partner Emma Matebalavu with support from Senior Associate Soojean Choi in London; Partners Oliver Kronat, Olaf Mertgen and Dennis Blechinger with Counsel Steffen Waadt and Senior Associates Tatjana Bougargour and Alexander Metzing and Associate Robin Rebecca Molitor in Germany; Partners Marc Mehlen, Counsel Antonio Arenas Torres, and Associate Federica Gamen in Luxembourg; and Partners Matt Lyons and Avrohom Gelber in the US.

Clifford Chance advises Masco Group in the acquisition of Techniserv

Mon, 09 Jun 2025 15:45:00 GMT

This strategic move significantly strengthens Masco Group’s presence in the United States and enhances its capabilities across both upstream and downstream bioprocessing.

A cross-border, multi-practice team helping Masco Group included lawyers from the firm's New York, Washington, DC and Milan offices.

Partner Kevin Lehpamer and associate Peter Guinnane advised on the US M&A aspects supported by associate Vicki Ye and trainee lawyer Atiah Zohura (Private Equity M&A). The wider US team comprised of partner Reuven Falik, senior counsel Howard Adler and associate David Walsh (Employee Benefits), partner Philip Wagman and associate Jihyun Lee (Tax), counsel Daryl Fairbairn and law clerk Molly Margiotta (Intellectual Property), counsel Victoria Manthas (Real Estate) and associate Brian Yin (Data Privacy). Milan-based partner Filippo Isacco and senior associate Mariasole Rinciari advised on the Italian M&A aspects of the transaction.

Clifford Chance conseille Atos dans le cadre du projet de cession d’une partie de son activité Advanced Computing à l’Etat français

Fri, 06 Jun 2025 15:23:12 GMT

L’activité Advanced Computing du groupe Atos réunit les divisions Calcul Haute Performance (HPC) & Quantique ainsi que les divisions Business Computing & Intelligence Artificielle.

Cette opération s’inscrit dans le cadre du plan de réorganisation financière du groupe Atos. Le périmètre de la transaction devrait générer pour le groupe un chiffre d’affaires d’environ 0,8 milliard d’euros en 2025.

Clifford Chance intervient sur les aspects fiscaux de l’opération, avec une équipe composée d’Alexandre Lagarrigue (associé), Rémy Lefebvre (counsel) et Hanène Zemir (avocate).

Clifford Chance advises EQT on its entry into exclusive negotiations with the founders of Waga Energy and certain historical shareholders to acquire a majority stake in Waga Energy and launch a mandatory tender offer for 100% of the company

Fri, 06 Jun 2025 10:21:00 GMT

Completion of this block, which is subject to customary regulatory approvals, would result in the filing of a mandatory cash tender offer for the remaining Waga Energy shares. Should the tender offer be successful, EQT intends to implement a squeeze-out of Waga Energy.

As EQT Transition Infrastructure’s third investment, Waga Energy aligns perfectly with EQT's strategy to scale businesses that help drive proven and profitable new energy solutions towards and a more resource-efficient, circular economy.

Waga Energy is a French leading producer of renewable natural gas (“RNG”), also called biomethane, from landfill gas. The Company deploys an innovative patented technology, allowing, at a competitive cost, to produce RNG from landfill gas to substitute fossil natural gas. By monetizing landfill gas, the Company has a significant impact on methane emission reduction.

EQT is a global investment organization with an active ownership approach. For more than 15 years, EQT Infrastructure, which today manages 79 billion euros, has partnered with its portfolio companies to help build strong, resilient businesses for the future. It has invested over €17bn, in energy transition-related opportunities.

The team is led by Partners Benjamin de Blegiers, Gilles Lebreton and Catherine Naroz in Paris and composed of Counsel Alexandre Namoun, Benjamin Saada, Associate Charlotte Hershkovitch and Manvel Arutunyan on corporate and public M&A aspects, Partner David Tayar, Associate Hendrik Coppoolse and Maëlys Cleuziat on foreign investment aspects.

Clifford Chance advises Deutsche Bank and Legal & General on a sustainable financing to the Republic of Togo

Thu, 05 Jun 2025 15:30:00 GMT

The loan financing is the Republic of Togo's debut financing from international commercial lenders under its Sustainable Finance Framework. The proceeds of the loan will be allocated to green and social projects including climate adaptation, biodiversity preservation, sustainable agriculture, access to clean energy and pollution control.

The Clifford Chance team was led by partners Deborah Zandstra and Simon Williams, together with senior associates Azam Taiyeb and Michael Obiri-Darko, associate Domenico Cullura and trainee solicitors Atharva Deshpande and Eve Thomson.

The successful execution of the deal adds to Clifford Chance's track record of advising clients on complex sovereign and quasi-sovereign transactions in Africa.

Clifford Chance advises P Capital Partners on financing for POLON-ALFA

Thu, 05 Jun 2025 13:22:40 GMT

Clifford Chance’s team working on the transaction was managed by Anna Miernik (Senior Associate) and Mateusz Chmura (Counsel) and supervised by Andrzej Stosio (Partner). It included Lewis Whyte (Senior Associate), Gabriela Kobak (Associate), Michał Beściak (Senior Associate), Julia Chodkowska (Associate), and Agata Parys (Senior Associate). Cosmin Anghel (Partner) and Martha Busuiocescu (Associate) handled Romanian law aspects of the transaction.