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WOLF THEISS ADVISES RENESOLA ON ITS ENTRANCE ON THE ROMANIAN MARKET
Bucharest, 19 September 2012 – Wolf Theiss has advised Renesola New Energy S.a.r.l., part of ReneSola Group, leading global photovoltaic manufacturer, in the acquisition of 100% of the share capital of the Romanian company Lucas Est S.R.L.
he reputed Chinese manufacturer has now entered the Romanian market, through its first acquisition of a photovoltaic park.
"We are very impressed with Wolf Theiss’ professionalism and knowledge of the solar industry, and we believe that we can establish a strong presence In the Romanian PV market through the assistance of professional firms such as Wolf Theiss", says Fernando Liu, Financial Planning & Analysis Director at ReneSola.
The complexity of the transaction consisted in analyzing all legal aspects entailed by developing a park in Romania, from permitting, real estate and regulatory aspects to corporate and financial aspects as they are imposed by the Romanian relevant legislation both within the due diligence investigation and when contemplating the possibility of Renesola New Energy S.a.r.l. becoming a shareholder in this Romanian company. Apart from the due diligence analysis, Wolf Theiss has assisted Renesola New Energy S.a.r.l. in preparing the share purchase agreement and other transaction documents. Wolf Theiss has also acted as fiscal representative for Renesola New Energy S.a.r.l for the purposes of this transaction. The Wolf Theiss lawyers involved in this transaction were leading Partner Ciprian Glodeanu, Counsel Ileana Glodeanu, Senior Associates Radu Simion and Adelina Iftime, Associates Ruxandra Musat, Luminita Gheorghe, Ioana Oprea, Radu Plesca, Alice Apetrei, Andreea Alexandru and Diana Stetiu.
Ciprian Glodeanu appreciates that Chinese manufacturers and investors see Wolf Theiss as a key contact in Romania in renewables. "We are proud to have been appointed by ReneSola for their series of acquisitions in the photovoltaic field. We have an excellent team specialized in renewable energy projects and we are happy to have the opportunity to reiterate this by asissting ReneSola and all our other leading wind and photovoltaic clients".
ReneSola is a leading global photovoltaic manufacturer and was listed on the New York Stock Exchange (NYSE:SOL) in 2008. Wolf Theiss currently assists ReneSola in multiple legal due diligence investigations and acquisitions in Romania.
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