Simpson Thacher Represents Munich Re and KKR in Acquisition of 49% Interest in Grupo T-Solar
07.18.11
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The Firm is representing MEAG, the asset management arm of Munich Re, and Kohlberg Kravis Roberts & Co. (“KKR”) in connection with the acquisition from Grupo T-Solar Global, S.A. (“GTS”), a leading European solar photovoltaic power generator, of a 49% interest in a portfolio of 42 existing solar photovoltaic plants located in Spain and Italy with an aggregate installed capacity of 168 MW and a generation capacity of over 250 GWh per year of clean energy. MEAG and KKR also have the option to acquire new, fully operational solar photovoltaic plants developed by GTS.
Munich Re is one of the world’s largest reinsurance companies. This is the second portfolio investment of the recently formed KKR infrastructure funds. The transaction is expected to close during the second half of 2011.
The Simpson Thacher team includes: Kristy Greene (M&A); David Vann and Étienne Renaudeau (Antitrust); and Meredith Jones and Seojung Park (Tax).