Squire Patton Boggs has assisted Edison in a transaction involving the sale to Helleniq Energy Holdings SA of 50% of Elpedison BV, a company incorporated under the laws of The Netherlands that owns the entire corporate capital of Elpedison SA, a leading producer and seller of electricity in Greece.
The Squire Patton Boggs team was led by partner Paolo Zamberletti and included senior associate Juancarlos Pirani, associate Alessandro Morleo and trainee Gianluca Valietti.
The final sale and purchase agreement - which follows the term sheet previously agreed upon between the parties - was signed on April 11. The agreement ends the 50/50 joint venture in Elpedison after more than 15 years of successful joint operations by the two groups.
The current value of the transaction, still subject to adjustments related to contractually agreed earn-outs and indemnifications, corresponds to approximately EUR 200 million for 50% of equity (approximately EUR 540 million for 100% of Elpedison’s enterprise value).
The closing of the transaction and the transfer of the stake are subject to the fulfillment of certain regulatory conditions precedent specified in the agreement and are expected to take place by the end of June 2025.
“This was a cross-border transaction of considerable complexity that engaged our energy team in assisting Edison for about a year,” said Mr. Zamberletti.