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posted 16 years ago
CEE power company NWR Energy has turned to Kocian Solc Balastik (KSB) to advise on its sale to Czech counterpart Dalkia Ceska Republika.
Dalkia has agreed to purchase the company from its Dutch parent New World Resources, the holding company for fellow power player OKD, for a cash consideration of €122m. The transaction is part of New World’s strategy to divest certain businesses to focus on its core activities of coal mining and coke production. Last year OKD span-off around €97m of its energy assets into NWR Energy.
KSB worked for the seller through name partner Martin Solc and Dagmara Dubecka. Dubecka also represented OKD on last year’s spin-off deal. Clifford Chance (Tomas Rychly) acted for the purchaser.
The transaction is the latest in a growing list of Czech power transfers. Notable deals in the last six months include Dalkia’s €347m double purchases of assets from local utility giant CEZ as well as Skoda Holdings offload of its power business to Korean heavy industry investor Doosan Heavy Industries & Construction for €450m.
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