LONDON - Ashurst advised the credit business of Kohlberg Kravis Roberts & Co L.P. ('KKR') on the acquisition of the entire share capital and voting rights of Pont-sur-Sambre Power and Toul Power, two combined cycle gas turbine power plants in France, from Verbund AG, a power transmission and trading company.

The transaction is subject to regulatory approval.

The transaction was led by Paris-based corporate partner Bertrand Delaunay, assisted by associate Séverine Gallet. The team also comprised disputes partners Jean-Pierre Farges and Pierre-Emmanuel Fender and associate Naouël Noury, real estate partner Philippe None and associate Danièle Darmo, energy and infrastructure partner Michel Lequien and associate Jacques Dabreteau and employment associates Caroline Mougin and Aurélie Moine.

In France, VERBUND has been operating CCGT Pont-sur-Sambre (420 MW) since 2009. In December 2012, the second CCGT of Toul (422 MW) went into commercial operation in the region of Lorraine in the northeast of France; this is operated by POWEO Toul Production SAS, a wholly owned subsidiary of VERBUND.

The combined cycle gas power plants were constructed using state-of-the-art, reliable technology. The high efficiency and the utilization of low CO2 natural gas guarantee an environmentally friendly process that generates neither soot nor sulfur oxide. Moreover, the implementation of high quality technologies along the entire production chain allows for a significant reduction of all other environmental impacts. The new gas turbine technologies entail the advantage of short offset times and coverage of electricity requirements at peak consumption times.

Source: http://www.ashurst.com/media-item.aspx?id_Content=11222&expandOfficeList=true&id_queryContent=&showDeals=true
Associated URL: http://www.ashurst.com