NautaDutilh acted as legal advisor to Provinciale Zeeuwse Energiemaatschappij (PZEM) on the sale of its wholesale activities, ownership of the 55km Zuid-Beveland Pipeline (ZBL) and her 50% stake in the 870MW Sloe power plant to Czech energy company EPH. PZEM's wholesale activities consist of a portfolio of renewable PPA's, its trading activities and B2B supply activities. Along with the proposed transaction, Electricité de France (EDF), PZEM's joint venture partner in the Sloe power plant, also sells its 50% stake in the Sloe power plant to EPH. EPH is a leading European energy company with operations in the Czech Republic, Slovakia, Germany, Italy, Ireland, the United Kingdom, France and Switzerland.
The sale is subject to approval by PZEM's shareholders and customary approvals. PZEM expects to fulfil the conditions precedent as soon as possible around the year end.
"This transaction is an important step for our longstanding client PZEM in delivering on its strategy, and it was a pleasure to work with them again," says team lead Lisa Schoenmakers. "And many thanks to everyone involved. It was a true team effort to get this deal to the finish line!"
Our team for this transaction was led by Lisa Schoenmakers and further consisted of Harm Kerstholt, Lot Tutein Nolthenius, Ole de Vries (Corporate M&A), Edward Rijnhout, Sjuul Jentjens (Tax), Jaco Belder (Finance), Aira Scheijvens, Ruben Martens (Corporate Notarial), Daniel Kuiper (Employment), Jasmijn van Koetsveld, Casper van der Meulen (Competition), David Wumkes and Youri Jansen (Real Estate).