A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised 7C Solarparken AG on a capital increase with a gross issue volume of EUR 15.2 million. The transaction was significantly oversubscribed. The solar power plant operator intends to use the proceeds to finance its 2018-2020 strategic plan, which provides for increasing the group’s portfolio to 220 MWp by the end of 2020.
The 5,339,408 new shares were placed with institutional investors in Germany and other European countries at a price of EUR 2.85 per share.
7C Solarparken AG is the owner and operator of solar power plants, focusing on the German solar market. 7C Solarparken has sites in Bayreuth and in Mechelen, Belgium. The company’s main activities are the acquisition and operation of photovoltaic plants that are optimized on an ongoing basis.
The team led by Kuthe regularly advises 7C Solarparken, most recently on the acquisition of the solar division of Ernst Russ AG.
Counsel to 7C Solarparken AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets), Cologne
Dr. Gero Lingen (both Capital Markets), both Cologne