Orrick Advises 3i Infrastructure in Acquisition of Minority Stake in Valorem

July.14.2016

Orrick advised 3i Infrastructure plc in its agreement to acquire a minority stake in French renewable energy group Valorem.

According to the agreement, 3i Infrastructure will acquire a 28.5% stake in Valorem and provide further capital to the company through a subordinated debt instrument, for a total amount (equity and subordinated debt) of approximately €69 million. The remaining equity will be retained by the existing management team and minority shareholders. Completion is expected to take place in September.

Headquartered in Bègles, France, Valorem is a leading independent renewable energy development and operating company and one of the largest wind developers in France, having developed over 480MW of capacity over the last 10 years.

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company and a long-term investor in infrastructure businesses and assets. It is listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission.

The Paris-based Orrick team advising 3i Infrastructure was led by Patrick Tardivy and included Emmanuel Ringeval and Delphine Camboulives.