Rödl & Partner Advises Investor in Largest Solar Power Plant-Transaction in Spain this Year

Barcelona / Munich / Nuremberg, 13 October 2009: The international investor Konstantin Strasser acquired the two Spanish solar power plants known as “Solon” and “Almeria” with an installed output of 30 MW from the listed PI Power International based on the Channel Island of Jersey (www.powerinternational.eu). The purchase price is EUR 87.5 million. It is the largest transaction in the Spanish solar market this year.

The sale of the solar power plants was preceded by intensive negotiations during the last months with several interested parties in the bidding process. Strasser, who originally developed the Almeria solar power plant, acquired the solar power plants through companies controlled by him. Both solar power plants sold are in operation and represent the majority of non-cash assets of PI Power International.

Investor Konstantin Strasser prior to the transaction and during the acquisition was advised by an international M & A and tax-consulting team on company law, M & A, banking law and tax law, led by Partner Dr Oliver Schmitt of Rödl & Partner in Munich, Germany. This also included the complex tax structuring by Partner Dr. Isabel Bauernschmitt (Nuremberg, International Tax Law) and Partner Ignacio del Val (Madrid, International Tax Law), and the financing of the acquisition. The Spanish team was led by Associate Partner Christoph Himmelskamp (Barcelona, M & A).

In the process of divesting itself of all assets and accordingly in this transaction the sellers are advised by Wolf Theiss, Vienna, Austria, one of the leading Austrian law firms, led by Partner Dr. Peter Oberlechner. Cuatrecasas, Gonçalves Pereira, Barcelona, advised in Spanish law. The financing bank, Landesbank Baden-Württemberg, was advised by Gómez-Acebo & Pombo Abogados, Madrid, Spain.

With this transaction Rödl & Partner underlines its leading position in the professional support of international investors in the Renewable Energies sector. Already the private equity-funded solar power plant Almeria, part of the largest solar power project in Europe, was advised by Rödl & Partner. Rödl & Partner advises numerous solar, wind and geothermal energy projects in Germany, Italy, the United States and in China.

Consultants of Purchaser (Konstantin Strasser)

Rödl & Partner, Munich, Germany
Dr. Oliver Schmitt, DEA, attorney-at-law, Partner (lead M & A, Corporate)
Alexandra Kilian, attorney-at-law (M & A, legal due diligence)

Rödl & Partner, Barcelona, Spain
Christoph Himmelskamp, attorney-at-law, Associate Partner, Head of the Barcelona office (lead Spain, M & A, legal due diligence)

Rödl & Partner, Madrid, Spain
Ignacio del Val, attorney-at-law, Partner (lead tax law Spain, tax due diligence, tax)
Maria Bardaji Cruz, attorney-at-law (Credit Facility)
Sonia Neira, tax advisor (tax due diligence, tax)

Rödl & Partner, Nuremberg, Germany
Michael Wiehl, attorney-at-law, tax attorney, Partner (lead Corporate, M & A)
Dr. Isabel Bauernschmitt, tax advisor, Partner (Tax)
Harald Reitze, LL.M., attorney-at-law, Associate Partner (M & A, Corporate)
Dr. Frank Beckstein, attorney-at-law (M & A, Corporate)
Anna Bernheim, tax advisor (Tax)
Lena Cosima Wagner, attorney-at-law (M & A, Corporate)

Rödl & Partner, Eschborn, Germany
Dr. Ulrich Hottenbacher, attorney-at-law, Associate Partner (Credit Facility)

Consultant Seller (PI Power International, Jersey)

Wolf Theiss, Vienna, Austria
Dr. Peter Oberlechner, attorney-at-law, Partner (lead M & A, Corporate)
Martin Abram, attorney-at-law, Partner (M & A, Corporate)
Dr. Andrea Gritsch, attorney-at-law (M & A, Corporate)
Dr. Silvia Wandl, attorney-at-law (M & A, Corporate)

Cuatrecasas, Gonçalves Pereira, Barcelona, Spain
Bernat Mullerat, attorney-at-law (M&A, Corporate)
Juan Carlos Hernanz, attorney-at-law (M&A, Corporate)
Albert Trias De bes Maqueda, attorney-at-law (M&A, Corporate)

Consultants Banks (Landesbank Baden-Wuerttemberg)

Gómez-Acebo & Pombo Abogados, Madrid, Spain
Verónica Romaní Sancho, attorney-at-law (Credit Facility)
Henar Hernando Rodriguez, attorney-at-law (Credit Facility)