Austria: Schoenherr advises VERBUND AG on acquisition of Solarpower Holding GmbH and its subsidiaries

Schoenherr advised on all aspects of the transaction, including the transaction structure, the legal due diligence as well as the preparation and extensive and intensive negotiation of the transaction documentation with the sell side. The transaction also included the acquisition of real estate in Austria by the buyer from the shareholder.

VERBUND is Austria's leading electricity company and one of the largest producers of electricity from hydropower in Europe. Almost 100 % of VERBUND's electricity generation comes from climate-friendly, renewable hydropower.

Solarpower Holding GmbH, based in Feldkirchen an der Donau, Upper Austria, is a full-service provider for customer-specific consulting, funding processing, system planning, delivery, assembly and commissioning of turnkey photovoltaic plants. The company specialises in renewable energies and has already installed more than 3,000 photovoltaic systems throughout Austria.

The Schoenherr team was led by Michael Marschall (attorney at law) and further consisted of Markus Piuk (partner), Marco Thorbauer (partner), Constantin Klausegger (attorney at law), Lukas Pirringer (associate), Irina Hanin (associate), Verena Krikler (associate) and Gabor Kulcsar (associate).

The seller was represented by SCWP Schindhelm (Linz office; Mag. Christoph Luegmair, LL.M.).