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DWF advise PAD RES on majority shareholding sale and establishment of joint venture with Kajima Europe and Griffin Real Estate

22 September 2021

DWF in Poland has advised PAD RES on the sale of the majority of their shares and  establishment of joint venture with Kajima Europe and Griffin Real Estate.

The transaction involved the sale of the majority shareholding in PAD RES, a leading developer in the clean energy asset space in Poland, to Kajima Europe and Griffin Real Estate, and the conclusion of a shareholders' agreement. The joint venture aims to create a portfolio of energy projects with a total capacity of over 500 MW and to finance and develop renewable energy investments located in Poland.

The scope of DWF advisory included support in reorganising the group and negotiating an investment agreement. The project was supervised by Dr Rafał Woźniak (Local Partner, Corporate and M&A Department). The DWF team also included Krzysztof Jagiełło (Senior Associate) and Patrycja Figuła (Junior Associate).

PAD RES is a development company that specializes in the development of renewable energy projects, infrastructure investments and commercial real estate. It has been operating in the domestic RES market for 11 years. The company manages all operations necessary for the successful development of projects to the "ready for construction" or "ready for operation" stages. It has obtained building permits for various energy projects with a total capacity of over 500 MW and has supervised the construction of numerous investments.

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