On April 13, 2012, Ankara-based Akfen Holding announced that it had signed a binding Memorandum of Understanding (including an initialed purchase contract) with Aquila Capital on the sale of hydropower plants in Turkey. The power plants with a capacity of 570.8 million kWh will be sold at a price of EUR 354 million.
Heuking Kühn Lüer Wojtek advised Aquila Capital Hydrofonds on the acquisition of Akfen Holding's hydropower plants in collaboration with Turkish law firm Esin Attorney Partnership, Istanbul. Aquila acquired SPVs Ideal Enerji Uretim Sanayi & Ticaret AS for EUR 86.2 million, Camlica Elektrik Uretim AS for EUR 112 million and Beyobasi Enerji Uretim AS for EUR 155.7 million.
Akfen Holding is a leading Turkish holding company in the transport, energy and real estate sectors. Hamburg-based Aquila Capital specializes in alternative investments and manages EUR 3.8 billion assets for its clients. The lawyers of Heuking Kühn Lüer Wojtek advise Aquila Capital on a regular basis in the fields of Investment Funds, Corporate Law and Capital Market Law.
Counsel to Aquila Capital:
Heuking Kühn Lüer Wojtek Hamburg,
Dr. Michael Dröge (M&A, Capital Market Law),
Dr. Jörg Schewe (M&A, Corporate),
Dominik von Wissel (Capital Market Law)