The transaction was signed on December 17, 2021 and received the approval of Romania’s antitrust authority in early January 2022.
The Corporate/M&A team of Wolf Theiss, coordinated by Ileana Glodeanu, Partner Lawyer, provided legal assistance to Enercon Group on the transaction, including the drafting and negotiation of a complex sales-purchase contract subject to Romanian laws, preparing due diligence reports for the seller and providing general legal assistance during the competitive sale process.
Besides Ileana Glodeanu, the following lawyers also contributed to closing the deal: Mircea Ciocîrlea (Counsel, Mergers and Acquisitions), Flaviu Nanu (Counsel, Real Estate), Adina Aurel (Senior Lawyer, Energy and Natural Resources), Anca Jurcovan (Partner Lawyer, Competition), Maria Ionescu (Lawyer, Competition) and Iulia Cumparatu (Lawyer, Mergers and Acquisitions).
Enercon, founded in 1984 by Aloys Wobbe, builds wind turbines for electricity generation. Enercon also provides services such as project development, energy logistics and system solutions.
In Romania, Premier Energy manages a network of 2,500 km of natural gas pipes, seeing in the past years a growth rate of as many as 200 km per year. The company is held by investment fund Emma Capital which was founded in 2012 by Czech businessman Jiri Smejc, who currently owns the biggest part of the group.