27 April 2020
Deals | France | M&A
Gide has advised Idia Capital Investissement, part of group Crédit Agricole, on the acquisition of a stake in Amarenco Solar Limited, alongside three other capital investment companies belonging to group Crédit Agricole (Sofilaro, Grand Sud-Ouest Capital, and Nord-Midi Pyrénées Développement).
Amarenco is an independent renewable energy producer present in Europe, the Middle East and the Asia Pacific, with a portfolio of projects exceeding 2.5 GW that are either under development or under acquisition.
For this innovative fundraising round, Idia Capital Investissement structured the first responsible convertible bonds, whose yield is directly indexed on Amarenco Solar Limited reaching three environmental, health and community objectives: promoting agrophotovoltaics, removing asbestos from agricultural roofing, and involving citizens via crowdfunding,
With this operation, group Crédit Agricole becomes the first institutional shareholder in group Amarenco.
The Gide team advising Idia Capital Investissement was headed by partner Alexis Pailleret (M&A), working with associate Chloé Bouhours (M&A), counsel Alexandre Bochu (Tax), and associates Pascal Suffran (Projects), Maxime Redon (Employment), Caroline Pineau (Urban Planning) and Emma George (Energy).
Idia Capital Investissement was also advised by Arthur Cox (John Matson, Michael Coyle, Niamh O’Toole, Sinéad McDonagh and Lyndsey McGinn) on aspects of Irish law, Eight Advisory Avocats on aspects of tax law, and Eight Advisory and Green Cape Finance on financial aspects.
The Idia Capital Investissement team comprised Maud Minoustchin, Guillaume Boccamaiello, Eric Le Cann and Jean Lebreton.
Amarenco Solar Limited was advised by Herbert Smith Freehills, and by Moran Ryan on aspects of Irish law, KPMG and CJA on aspects of tax law, Finergreen on financial aspects.