November 14, 2013 - Assignment

E.ON Sverige divests 80% of offshore wind farm Rødsand II to SEAS-NVE

E.ON Sverige has sold 80% of the shares in the offshore wind farm Rødsand II to Danish energy company SEAS-NVE. E.ON will retain a 20% stake and has entered into a service agreement with SEAS-NVE as part of the transaction whereby E.ON will remain responsible for the operations and maintenance of the wind farm. The transaction is subject to customary regulatory and competition clearances and is expected to close around the end of the year 2013/2014.

Rødsand II is a 207 megawatt wind farm consisting of 90 turbines off the coast of Nysted, Denmark. The transaction values the wind farm at DKK 3.5 billion (approximately EUR 430 million) on a 100% enterprise basis.

E.ON was advised by Mannheimer Swartling in the transaction with Bech-Bruun acting as local counsel. The firm’s team was led by Johan Lekholm and Per Åsbrink, primarily assisted by Lucas Jonsson, Christian Hallberg, Anna Gustafsson, Isabel Lindeberg, Jakob Wijkander and Rickard Carrick.