Dentons > Luxembourg, Luxembourg > Firm Profile

Dentons
ATRIUM VITRUM BUILDING
33, RUE DU PUITS ROMAIN
L-8070 Bertrange - Luxembourg
Luxembourg

Luxembourg > Real estate and construction Tier 1

Able to draw upon a 'deep knowledge' of the domestic real estate sector, Dentons provides 'high-quality support' to institutional investors, promoters and sellers across a range of domestic and cross-border work relating to offices, retail and logistics. Recognised as a 'true deal-maker', team head Martine Gerber-Lemaire 'combines perfect technical skills with great business understanding’, to provide a very effective service to clients across a wide range of their real estate needs, including an increased volume of mixed-use development projects for promoters effectuated through joint venture agreements. Senior counsel Christel Dumont is 'very knowledgeable' across a range of front-end work, including as it relates to sales, acquisitions and leasing, and is also effectively able to leverage her overarching insolvency/restructuring credentials to good effect from time to time for real estate entities.

Practice head(s):

Testimonials

‘They have deep knowledge of the Luxembourg real estate sector and are very experienced in advising public and private sector clients in large real estate and construction projects and handling difficult and sensitive topics.’

‘The team provides high-quality support, and an innovative hands-on approach.’

‘Very integrated cross-border offering with finance and real estate specialists in different jurisdictions.’

‘Martine Gerber-Lemaire is a true deal maker, she knows the market very well and always goes the extra mile. She really understands the client’s business and DNA and therefore gives very hands on practical advice that allows the client to go forward and make decisions.’

‘Martine Gerber-Lemaire is a very responsive, client-focused lawyer who combines perfect technical skills with great business understanding.’

‘Martine Gerber-Lemaire is a very dedicated, knowledgeable lawyer who seeks solutions and really fights for her client.’

‘Martine Gerber-Lemaire: excellence, pragmatic, extremely close to business, understands needs and commercial stakes, tailor made solutions, extremely available, great character and brilliant mind.’

‘We have been working a lot with Christel Dumont who made herself available whenever needed, worked very hard and brought to the table excellent and legally sound solutions. Christel is very knowledgeable and has an acute understanding of the sensitivity and confidentiality aspects of the project we are working on with her.’

Key clients

AG Real Estate

IKO Real Estate

M&G Real Estate

Unibra Real Estate

Greenfinch capital/ Silverfinch

Work highlights

  • Advised AG Real Estate on the sale of Ceryx sàrl which holds the Charlotte office building in Luxembourg (5,000 sqm) to Ham 11, a fund managed by Macquarie’s GLL Real Estate Partners.
  • Advised AG Real Estate on the sale of its a 50% or remaining stake in BG1 SA, which owns the Crystal Park building (rented by PwC) at Ban de Gasperich to Societe Generale Assurances.
  • Advised IKO Real Estate on the structuring of a landmark project consisting of various real estate transactions in order to develop the Red-Cross House.

Luxembourg > Tax Tier 2

Benefitting from 'exceptional insight into the market' and a 'very good practical knowledge of Luxembourg and international tax law’, Dentons works alone, as well as in collaboration with other practitioners from across the international network, on a range of advisory, structuring and compliance matters. 'Excellent' team head Jean-Luc Fisch 'has an unparalleled knowledge of private equity structuring', particularly in the context of cross-border investments.

Practice head(s):

Other key lawyers:

Testimonials

‘The team has a very good practical knowledge of Luxembourg and international tax law.’

‘They have exceptional insight into the market. Capability to turn around comprehensive restructuring memos in a short timeframe. Always reachable. Further, Dentons is introducing new online tools for ATAD II, facilitating hybrid entity analysis in a step by step approach, simplifying the analytic procedure for clients (admittedly clients with a certain legal tax background).’

‘Jean-Luc Fisch is an excellent tax advisor with a practical approach and who is well-informed on new developments.’

‘Jean-Luc Fisch has an unparalleled knowledge of private equity structuring. Further, his clients can truly capitalise on his excellent network and pragmatic approach.’

Vincent Quittre has an in-depth knowledge of the new ATAD I & II measures as well as DAC6, which is invaluable in the recent times of ongoing EU tax directives modifying the landscape across the EU.’

Key clients

Islamic Development Bank

FSDAi

Polenergia

Gemini Real Estate group

Gemcorp Capital LLP

Work highlights

  • Advised Islamic Development Bank on the Luxembourg tax and transfer pricing aspects relating to a $25bn trust certificate issuance programme alongside a Luxembourg co-issuer.
  • Provided tax due diligence and legal/regulatory advice to FSDAi, the investment arm of the UK aid-funded financial inclusion organisation FSD Africa, and its investment in Lendable Fintech Credit Fund I, a sub-fund of Lendable S.A., SICAV-RAIF.
  • Advised Kulczyk Holding, a Luxembourg corporation, on the planned reorganisation of its controlling stake in Polenergia, the largest independent energy group based in Poland.

Luxembourg > Banking, finance and capital markets Tier 3

Led by the ‘results oriented and pragmaticStéphane Hadet out of Luxembourg and also able to draw upon expertise from across the firm’s extensive international network of offices, Dentons is well-placed to advise lenders/borrowers on multi-jurisdictional financings. As well as real estate-related work, the team is particularly well regarded for its fund financing expertise and is noted for its ‘strong industry knowledge’ in the field.

Practice head(s):

Testimonials

‘The firm has three significant competitive advantages within the fund financing legal market: strong industry knowledge, reasonable fee and pragmatism/solutions-oriented advice.’

‘Stéphane Hadet and Olivier Lesage have great industry knowledge, pragmatism and a results-oriented approach.’

Key clients

CPI Property Group

Bank of Montreal

Unicredit

Islamic Development Bank

Spectrums brands

Round hilll Capital

Silverfinch

Globe Trade Centre S.A

Work highlights

  • Advised CPI Property Group on a series of successful transactions, including a consent solicitation, a tender offer, and a bond issuance raising more than €1bn.
  • Advised Bank of Montreal on a $350m revolving credit facility to two Canadian companies, one of them being Clearwater.
  • Advised Globe Trade Centre (GTC), the Polish based CEE focused real estate company, on the issuance of green bonds.

Luxembourg > Commercial, corporate and M&A Tier 3

Although it was weakened somewhat by the departure of former team head Gérard Maîtrejean to CMS at the beginning of 2020, the team at Dentons has effectively begun rebuilding, with the arrival of the ‘reliable and accurateNamik Ramic in May 2020 from Elvinger Hoss Prussen a real statement of intent. Ramic has a focus on private equity-led M&A work and co-heads the team alongside Shahoui Zhang, who has niche expertise advising Chinese clients investing in Luxembourg, as well as European entities looking to expand into China.

Practice head(s):

Testimonials

‘The firm’s international reach, pragmatic approach to matters, as well as timely and high quality deliverables are the key drivers to their success. Clients receive the necessary attention and fast and high-quality feedback.’

‘Namik Ramic would be best defined by the word “reliable”. Quick, precise, accurate and on deadline, that is what Namik is as a lawyer.’

Key clients

VTB Capital

Europa Capital

SDAAC R&D center and ESTRA Automotive System Sàrl

CIBC Capital Markets (Europe) S.A.

Mavin Property Fund

Intermediate Capital Group (ICG)

Infracapital Partners Funds

Work highlights

  • A cross-border Dentons team advised VTB Capital on the acquisition of a $75m stake in global car sharing company Delimobil Holding SA.
  • Advised Mavin Property Fund on the restructuring of the group; the matter included a demerger of a Luxembourg SIF (to be deregulated) into three new companies for the segregation of real estate assets (hotels, parking and retails) including loans and mortgages.
  • Advising Europa Capital on the sale of a Dutch and German portfolio of urban logistics and warehouse assets to Strategic Industrial Real Estate (SIRE), Arrow Capital Partners’ platform backed by Cerberus to Arrow Capital Partners.

Luxembourg > Investment funds Tier 4

Strengthened by the arrival of Jean-Luc Fisch from Elvinger Hoss Prussen, particularly in light of his tax-related structuring expertise pursuant to pan-European investment platforms, Dentons‘ small team remains focused on advising fund managers in the alternative space, including in relation to real estate and distressed assets. The practice has also recently seen an uptick in due diligence work for pension funds and insurance companies as institutional investors.

Practice head(s):

Testimonials

‘It is an ambitious, young yet experienced and flexible team, and is pro-active in coming up with good ideas and initiatives.’

Key clients

Palladium Group

Covalis Capital Luxembourg II GP

CIBC

FSDAi

IsDB

CARE

Quadriga Asset Management

FMO

FPA

BIO

Cogito Capital Partners

Calvert Impact Capital

Work highlights

  • Assisted Palladium Group on the establishment of its first real estate fund Palladium Fund 1870 Management S.C.A. SICAV SIF, including active interaction with the CSSF during the authorisation procedure, as well as ongoing legal, regulatory, and tax advice.
  • Advised Covalis on having Covalis Capital Luxembourg II GP registered as an alternative investment fund manager with the Luxembourg CSSF.
  • Advised CIBC on its initial capital infusion of CAD 550m to its Luxembourg bank subsidiary CIBC Capital Markets (Europe) S.A.

With a legacy in Luxembourg going back to 1999 as OPF Partners, our team of 20+ qualified lawyers, including four partners, provides high quality support on specific aspects of Luxembourg law to innovatively structure and implement global projects of local and international clients

Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons’ legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons’ polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

With 180+ offices in over 70 countries, Dentons’ global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size.

 

DepartmentNameEmailTelephone
Managing Partner and head of real estate Martine Gerber-Lemairemartine.gerber@dentons.com+352 46 83 83 257
Partner and head of banking and finance Stéphane Hadetstephane.hadet@dentons.com+352 46 83 83 747
Corporate Partner and head of Europe China Desk Shaohui Zhangshaohui.zhang@dentons.com+352 46 83 83 246
Real estate Senior Counsel and head of restructuring, insolvency and bankruptcy Christel Dumontchristel.dumont@dentons.com+352 46 83 83
Partner tax Jean-Luc FischJeanluc.fisch@dentons.com+352 46 83 83 217
PhotoNamePositionProfile
Ms Christel Dumont photo Ms Christel DumontChristel is a senior counsel in Dentons’ Luxembourg office and head of…
Mr Jean-Luc Fisch photo Mr Jean-Luc FischJean-Luc Fisch is a tax partner in Dentons’ Luxembourg office. Jean-Luc’s focus…
Me Jonathan Fonteyne photo Me Jonathan FonteyneJonathan Fonteyne is a junior associate in Dentons’ Luxembourg office. He is…
Mrs Martine Gerber-Lemaire photo Mrs Martine Gerber-LemaireMartine Gerber-Lemaire is the managing partner of Dentons’ Luxembourg office and head…
Mr Stéphane Hadet photo Mr Stéphane HadetStéphane Hadet is a partner in Dentons’ Luxembourg office and the head…
Me Carole Rhein photo Me Carole RheinCarole Rhein is a senior associate in Dentons’ Luxembourg office. She is…
Dr Shaohui Zhang photo Dr Shaohui ZhangShaohui Zhang is a partner in Dentons’ Luxembourg office and head of…
- Number of lawyers: : 10,500+
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Other offices : Dentons now has 180+ offices in over 70 countries

At Dentons, we believe that inclusion and diversity are essential to the success and strength of our Firm and the quality of our advice to, and representation of, our clients. We are committed to providing a flexible environment where everyone respects, supports and learns from our collective skills, talents and differences. Click here for our global statement on inclusion and diversity.

Over the last 12 months only, we have advanced numerous inclusion and diversity initiatives for both our people and our clients:

  • Women’s Professional Advancement Strategy – Europe: Our policy sets out a comprehensive strategy to reach a target of 30% women in partnership and key leadership roles by 2025. This includes an agile working policy, mentoring and sponsorship for up and coming female talent, business development support, anti-bias training for partners and HR managers, participation of women in leadership development programs, involvement of a member of the women’s advancement committee in partner admission interviews, and various other steps.
  • 2020 the Year of the Ally: A year-long campaign to use allyship to produce positive, sustained change, including International Women’s Day, Global Pride Day, Global Virtual Town Halls and Global Allyship Trainings. Our Global CEO led a series of global listening sessions to share experiences and co-create responsive actions. The result was five enhanced Global Commitments to Inclusion and Diversity along with clear actions to support change. We also held town hall webinars around themes such as discrimination, racism, allyship, multiculturalism, LGBT+ inclusion in Amsterdam, Frankfurt and Warsaw.
  • External collaboration: We have strengthened our collaboration with key organizations promoting inclusion, such as Stonewall, Catalyst, Global Women Connect, International Women’s Forum. Dentons was named a Stonewall Top Global Employer 2020.
  • Pro bono: As part of our Positive Impact strategy, key focus of our pro bono work has been supporting human rights of diverse groups such as women/girls, LGBT+ and migrants and promoting access to justice. We work closely with organizations such as UN Women and Led by Her to promote equality, support reproductive rights and combat violence against women. Dentons lawyers have worked alongside civil society organizations and taken on important strategic litigation cases to promote LGBT+ rights and promote marriage equality. As part of the Greece Pro Bono Collaborative Project, we have provided direct legal support to asylum seekers on Lesbos.
  • Big Inclusion Project: The Big Inclusion Project was designed to accelerate the inclusion agenda at Dentons and leverage the power of our people to build solutions aligned with our business objectives. Over 225 people across 68 offices at all levels within the Firm, including 12 of our Global Board members, participated on 22 teams to come up with inclusion and diversity solutions at Dentons. The Big Inclusion Project continues as we work to put into action the solutions developed by our Big Inclusion Project teams.

Mr. Phuc Le rejoined Dentons LuatViet to strengthen its offshore legal services

Dentons LuatViet is delighted to welcome back Mr. Phuc Le to join our firm as a Special Counsel. He will primarily provide legal services to our clients in the US and Moscow.

Singapore Big Five Law Firm Dentons Rodyk Boosts Corporate Practice with Two Senior Lawyer Hires

Singapore, 1 July 2022 – Singapore’s Big Five Law Firm Dentons Rodyk are today announcing the arrival of senior corporate lawyers Evelyn Ang and Emily Low. Together with six other lawyers, they join Dentons Rodyk from Big Four accounting firm EY’s Singapore law practice, Atlas Asia Law Corporation (AALC). The news follows Dentons' recently launched combination with leading Vietnamese law firm LuatViet, as the Firm pursues its goal of being the leading pan-ASEAN law firm.

Dentons launches combination with LuatViet in Vietnam

Dentons has launched its previously announced combination with leading Vietnamese law firm, LuatViet, which has more than 40 legal professionals serving clients from offices in Ho Chi Minh City and Hanoi.

Former Deputy Director of Attorney-General’s Chambers Navin Naidu joins Big Five Law Firm Dentons Rodyk

Big Five Law Firm Dentons Rodyk & Davidson LLP is pleased to announce the arrival of Attorney-General’s Chambers’ former Deputy Director Navin Naidu to the firm’s White Collar and Government Investigations practice.

How Singapore’s Big Five law firm Dentons Rodyk is embracing the future of work and ditching its traditional office for good

Visions for the future of work have never been bolder. The COVID-19 pandemic changed notions on how many felt a work environment should be. The world was rushed into accelerating technology adoption, increasing digital connectivity and embracing virtual collaboration. As we usher in a new and dynamic decade, Dentons Rodyk envisions the future of work by ditching its traditional office for good and introducing a permanent hybrid work model.

Dentons secures final victory for ICT on European patent infringement case against ESSITY

Global law firm Dentons is pleased to announce that the Paris Court of Appeal, the Higher Regional Court of Karlsruhe and the Barcelona Provincial Court have all issued final decisions dismissing Essity’s claims of patent infringement in regards to Industrie Cartarie Tronchetti’s (ICT) three ply toilet paper. With Dentons’ counsel, ICT successfully demonstrated beyond a doubt that its branded and private label products are produced based on its own proprietary process, and patented under European patent 2 353 859. 

Dentons has been advising Industrie Cartarie Tronchetti S.p.A since 2016. Based in Lucca, ICT is a leader in the category of high quality tissue paper products for domestic use, and has subsidiaries in Italy, Spain, Germany, France and Poland.

The Paris decision, which is the most recent, ends a long-running patent infringement litigation with Essity and affirms ICT can continue to produce and distribute absorbent paper based on its own proprietary technology. The three courts in France, Germany, and Spain have confirmed ICT’s argument that it is using its own novel technology, also patented. Essity’s claims of infringement were based on a patent originally filed by Georgia Pacific, and subsequently becoming Essity’s.

Dentons partner David Masson served as lead partner and represented ICT in France. Dentons partner Dr. Constantin Rehaag represented ICT in Germany, and PwC partner Alejandra Matas Brancós represented the client in Spain, with the support of Dentons partner Juan Ignacio Alonso.

David Masson, lead lawyer on the case, commented: “It has been very interesting to understand ICT’s own technology and work closely with different teams, including ICT’s R&D department, which has been part of all strategic and technical decisions throughout the case”.

Constantin Rehaag, who represented the client in the German court hearings and coordinated the work with the client’s patent attorneys, said: “This is an outstanding success of a great team formed by the client, who provided us with invaluable technological insight, the team of patent attorneys and, finally, by the Dentons teams in France, Spain and Germany.”

The patent litigation began in 2016 when Essity sued ICT in France, Germany and Spain for the alleged infringement of its patent related to the technical solution for the bonding of three layers of tissue for paper products such as high quality, soft and bulky, toilet paper.

In France, Essity claimed that ICT had breached the French part of its European patent 1 081 284 and that the toilet paper marketed as Foxy Soie Plus, and also certain other private labels produced by ICT France, had infringed on their patent. Essity demanded that all production operations be halted. The rolls of toilet paper were carefully analyzed and there were no findings of infringement. The two French courts - in first instance and appeal - rejected the claims and ordered Essity to pay compensation for the legal fees to ICT Italy and ICT France.

In Germany, the case was first taken to the Mannheim District Court, which is well reputed in patent matters. The lawsuit mainly focused on the complex questions regarding the construing of the claims of Essity’s patent. The court ruled in favour of ICT, and Essity filed an appeal. In August 2019, the Higher Regional Court of Karlsruhe also ruled that the German subsidiary of ICT did not infringe the German part of the patent 1 081 284.

In Spain, after a first decision in favor of Essity in the lower court, the Barcelona Provincial Court clearly stated in a written appeal that ICT’s products - and in particular, Foxy Seda, Foxy Bouquet, certain three-ply private label products - did not infringe the Spanish part of the patent 1 081 284.

About ICT

Industrie Cartarie Tronchetti (ICT) was founded in 1976 in Italy, in the Lucca province, to operate in the tissue sector, producing high quality paper exclusively from virgin fibre. The first production facility was opened in 1978 in Piano della Rocca, Lucca, and over the years new plants and facilities have been set up in Piano della Rocca, Diecimo and Piano di Coreglia. The Foxy brand, one of the leading brands in the European market, was launched in 1982. ICT is an example of excellence in the paper industry, in full harmony with the tradition of the Lucca region, where the most important Italian papermaking hub is located, on a par with those of Green Bay (USA) and Fuji (Japan). In Lucca in particular, great expertise has been nurtured in the field of paper for household use, and the city is in fact known as the world tissue capital. Today, ICT SpA boasts an annual production capacity of about 160,000 tonnes.

About Dentons

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.


Dentons advises Snam on US$10.1 billion consortium investment in ADNOC Gas Pipelines

Global law firm Dentons advised Italian-based multinational energy infrastructure operator Snam in relation to its agreement, in consortium with several international investment funds, to purchase a 49 percent share of ADNOC Gas Pipelines from The Abu Dhabi National Oil Company (ADNOC). ADNOC Gas Pipelines is valued at approximately US$20.7 billion (US$10.1 billion for 49%).

The transaction is one of the most important in the global energy infrastructure sector, as well as Snam’s first acquisition outside Europe.  ADNOC Gas Pipelines holds the tariff-based rights for the 38 pipelines that connect ADNOC’s upstream activities to Abu Dhabi’s consumption points and the export and interconnection terminals to neighboring Emirates.

The transaction was financed by a pool of international banks for approximately $8 billion, plus an equity contribution from each of the consortium members.  In addition to Snam, the other consortium members included Global Infrastructure Partners, Brookfield Asset Management, GIC, Ontario Teachers’ Pension Plan, and NH Investment & Securities.

Dentons acted with a cross-border team from Italy and UAE, coordinated by partner Sara Biglieri in Milan.  Partners Luca Pocobelli (Rome) and Mhairi Main Garcia (Dubai), counsel Claudio Segna (Milan), senior associate Craig Hughson (Abu Dhabi) and associate Stephanie Hawes (Dubai) advised on corporate and M&A aspects. Partners Alessandro Fosco Fagotto (Milan) and Stephen Knight (Abu Dhabi), counsel Franco Gialloreti, senior associate Tommaso Zanirato and junior associate Giulia Caselli Maldonado (all Milan) advised on financing aspects. Partner Michele Carpagnano (Rome) and associate Giulia Giordano (Rome) advised on the competition and antitrust aspects.

Snam’s internal legal team was led by General Counsel, Marco Reggiani - assisted by Michela Schizzi, Senior Vice President Regulated Assets Legal Affairs - and included senior legal counsels Rosanna Pallotta and Claudia Jolanda Fanelli.  The legal aspects related to the financing were handled, together with Marco Reggiani, by Gloria Bertini, Head of Finance and Capital Market Legal Affairs and Roberta Di Mauro, legal counsel.


Dentons advises Investitionsbank Berlin (IBB) on the establishment of the EU Malaria Fund

The EU Malaria Fund was initiated by the kENUP Foundation, a not-for-profit organization promoting research-based innovation with public and societal benefit. The fund is managed by the IBB Group. The target volume of the fund amounts to €280 million, with a first closing of €70 million on June 3, 2020.A Dentons team from Berlin, Frankfurt, Dusseldorf and Munich provided comprehensive advice to IBB Group on the establishment of the EU Malaria Fund. This included the development of the legal and tax conception of the fund, regulatory advice, corporate law support on the setup of the fund, and the negotiation of the financing agreements with the EIB, the Bill & Melinda Gates Foundation and other investors.Berlin-based partner Dirk-Reiner Voss and Frankfurt-based partner Arne Klüwer jointly led the Dentons team, with support from partners Stephan Busch, Matthias Santelmann and senior associates Holger Hölkemeier and Bernd Düsterbeck in Berlin; counsel Verena Etzel and Oda Elmoutaouakil in Frankfurt; partner Axel Schlieter in Dusseldorf, and partner Richard Fagerer in Munich.About DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises on ACS Group’s €500 million NEU-CP Program

Dentons, the world’s largest law firm, has advised Spanish-based multinational construction group, Actividades de Construcción y Servicios, S.A. (ACS), on the renewal of its €500 million Negotiable European Commercial Paper (NEU-CP) Program. The NEU-CP program is registered with the Central Bank of France, with the involvement of BNP Paribas, BRED Banque Populaire, Crédit Agricole Corporate and Investment Bank, ING Bank N.V. and Natixis, as dealers for the Notes.Headquartered in Madrid, the ACS Group is a worldwide leader in construction and services. It is currently the only non-financial issuer with a NEU-CP Program registered with the Central Bank of France.Dentons’ Capital Markets group in Madrid advised ACS on all aspects of the transaction. Partner Ignacio Corujo led and coordinated the transaction with the support of junior associate Ana Artola.Ignacio Corujo joined Dentons in January this year to establish and lead the Capital Markets group in Spain. In addition to this most recent deal for ACS, he has closed several high-value debt capital markets deals since his move, including most notably, Grupo Cajamar’s €1 billion issuance of mortgage bonds, as well as Sacyr’s renewal of its €500 million EMTN Program.About DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com 

Dentons advises UniCredit on a €450 million secured sustainability-linked financing for Gunvor Gro

Global law firm Dentons has advised UniCredit Bank AG as Mandated Lead Arranger, (Sustainability) Coordinator, Bookrunner, Facility Agent and Security Agent as well as the lenders on a €450 million secured sustainability-linked borrowing base facility agreement with Gunvor Group. Gunvor Group will use the funds to cover the working capital requirements of its Ingolstadt refinery.The innovative financing model is tied to the borrower's achievement of predetermined ESG key performance indicators (Sustainability KPIs) and provides for a sustainability discount or premium in case the company overachieves or underperforms the predefined targets. An independent sustainability auditor will report on the performance of the Sustainability KPIs on an annual basis. The ESG-based scoring of certain key performance indicators provides a unique way for borrowers and lenders to communicate their commitment to sustainability and incentivizes sustainable corporate measures.Participating banks included DZ Bank, KfW IPEX-Bank, Raiffeisen Bank International, Erste Group Bank, Commerzbank, Industrial and Commercial Bank of China, CA Indosuez (Switzerland), Bank of China and First Abu Dhabi Bank.Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded. With strategic investments in industrial infrastructure – refineries, pipelines, storage and terminals – Gunvor Group further generates sustainable value across the global supply chain for its customers. UniCredit is one of the pioneers in sustainable loans in the German market.Düsseldorf finance partner Dr. Axel Schlieter fully advised the bank on the drafting and negotiation of the loan agreement. The Dentons team further comprised Julia Heitmann (senior associate, Banking and Finance, Düsseldorf) and Eike Hinrich Pradt (associate, Banking and Finance, Frankfurt). Axel Schlieter is a core member of Dentons’ Sustainable Finance group in Europe and is regularly involved around the topics of issuance of green bonds and on sustainable financing.Advisors to UniCredit: Dentons (Düsseldorf): Dr. Axel Schlieter, (lead partner), Julia Heitmann (senior associate, both banking and finance, Düsseldorf), Eike Hinrich Pradt (associate, banking and finance, Frankfurt am Main)UniCredit inhouse lawyers: Carina Engelhardt, Alexander Strigin, Christian HentrichAbout DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises Qair on refinancing of the acquisition of Rzepin and Linowo wind farms in Poland

Dentons’ Banking and Finance practice team advised Qair SAS, Qair International and Qair Polska Sp.z o.o. in connection with the refinancing of two wind farms under operation, Rzepin (58 MW) and Linowo (48 MW). The financing institutions are BNP Paribas and EBRD.The two wind farms are part of Qair’s larger portfolio of almost 200 MW of renewable energy sources, which also includes 93 MW of new capacity from three wind farms – Udanin (50 MW), Parzeczew (9 MW) and Września (9 MW) – and 25 MW of solar photovoltaic.The project was supervised by Mateusz Toczyski, Head of the Europe and Co-Head of the Global Banking and Finance practice, and led by Tomasz Zwoliński, counsel, with assistance from lawyers Klaudia Szymańska-Rutkowska, Katarzyna Mazur, Katarzyna Kaptur and Jakub Walawski. Supporting the Warsaw team were counsel Surbhi Malhotra-Trenkel in Munich and partners Jean-Marc Allix and Olivier Genevois, and associates Djésia Meziani, Philippine de Fouchier and Hugo Casasnovas in Paris. Dentons’ London team consisting of partner Matthew Sapte and associate Annreika Ray advised on the hedging documentation.“We are very pleased and honored to have had this opportunity to assist Qair in yet another wind power project the company has undertaken in Poland,” said Mateusz Toczyski.“We would like to congratulate Qair on this financing and to wish every success with further developments and investments in Poland and elsewhere in the world,” added Tomasz Zwoliński.About DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons advises Sev.en Energy on aacquisition of US-based Blackhawk Mining

Dentons has advised international energy group Sev.en Energy on its strategic acquisition of US-based metallurgical coal producer Blackhawk Mining, LLC. C. The transaction comes on the heels of Sev.en Energy’s acquisition of a 17% ownership interest in Corsa Coal in May 2020, further reinforcing its access to the metallurgical coal mining industry in the US market.Blackhawk Mining is one of the largest metallurgical coal producers in the US. With annual production capacity of seven to eight million tonnes of metallurgical coal among its five underground and open pit mining complexes in West Virginia and Kentucky, Blackhawk Mining is an important supplier of metallurgical coal both locally and internationally. It also owns three thermal coal mine complexes producing three to four million tonnes per annum. In 2019, Blackhawk Mining had $1bn revenues and $120m EBITDA. Commenting on the acquisition, Dentons partner Petr Zákoucký, said: “Having worked for Sev.en Energy for many years, I am inspired by their sustained dynamism, and by this bold strategic move, even during these difficult market conditions. We were delighted to have opportunity to play our role in this success.” Alan Svoboda, Executive Director of Sev.en Energy who leads the Group’s international expansion added: “Once again, the Dentons team exceeded our expectations and delivered the transaction within a tight time frame of less than a month, nailing both the complexity of the deal and challenges created by the current worldwide pandemic. What was really outstanding was the dedication and flexibility that the entire team showed.” Dentons’ cross-border team was composed of partners Petr Zákoucký (Prague, Energy/M&A), Ilan Katz (New York, M&A), Lee Smith (New York, Finance), Christopher Van Bever (Lexington, Mining) and John Rhine (Evansville, Mining) Robert E. Richards (Chicago, Insolvency), Managing Associate Gregory DiBella (New York, M&A) and Associate Barbora Obračajová (Prague, Energy). Alvarez & Marsal advised Sev.en Energy on financial due diligence and Weir on technical due diligence. About Sev.en EnergySev.en Energy owns significant coal and energy production assets in the Czech Republic, the United Kingdom, Australia and the USA. It is the largest private operator of coalmines and conventional power plants in the Czech Republic, and employs more than 3,500 people. In 2019, Sev.en Energy acquired additional power generation assets from Swiss energy group Alpiq and a 50% stake in the multinational energy company – InterGen N.V., which is one of the leading independent power generators with gas-fired power plants in the UK and coal-fired power plants and coal mines in Australia. When pro-forma aggregated with the financial results of InterGen and Alpiq CZ, Sev.en Energy group combined revenues in 2019 were EUR 1,4 billion and EBITDA of EUR 319 million. About DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com

Dentons supports German subsidiaries of the Recylex Group in restructuring

Global law firm Dentons is assisting Weser-Metall GmbH and Harz-Metall GmbH, both subsidiaries of the French-German Recylex Group, with their restructuring through ‘self-administration’ proceedings. In addition, Dentons restructuring lawyers Andreas Ziegenhagen and Dirk Schoene and their team are advising the German management of the Recylex Group within the scope of its self-administration.As a result of the COVID-19 pandemic and the dramatic decline in metal prices, the German subsidiaries of Recylex have each applied for protective shield proceedings under German insolvency law. The aim of the protective shield is to allow the companies to continue their individual restructuring measures and to return to economic stability after the pandemic - if necessary, in a new shareholder structure.Weser-Metall produces about 100,000 tons of lead per year at its headquarters in Nordenham (Lower Saxony), making it the third largest lead smelter and the second largest lead recycler in Europe. Harz-Metall has its headquarters in Oker in the Harz Mountains and is one of the leading European recycling companies for lead and zinc contaminated waste.The Recylex group has a total of eleven operating units and two administrative sites in France and Germany. In addition to the companies supported by Dentons, two other companies in the group, Norzinco GmbH and PPM Pure Metals GmbH, have also submitted applications for protective shield, whilethree other German subsidiaries requested self-administration under creditor protection. The Group's French companies are not affected.Andreas Ziegenhagen, Head of the Europe and German Restructuring practice, said: "With the filing for protective shield proceedings, we are making use of the most restructuring-friendly court proceedings in the interest of all stakeholders of the companies”.Advisor to Harz Metall / Weser Metall / German management of Recylex:Dentons (Berlin): Andreas Ziegenhagen (Partner, Restructuring, Berlin/Frankfurt), Dirk Schoene (Partner), Dr. Jan Seelinger (Counsel), Dr. Benjamin Kurzberg (Counsel), Judith Schmid (Senior Associate), Dr. Jakob Pickartz (Senior Associate), all Restructuring and InsolvencyAbout DentonsDentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic. www.dentons.com