WARSAW – 8 March 2022 – Greenberg Traurig advises ZE PAK, one of the leaders in the energy transition in Poland, in connection with the launch of partnership with Ørsted, a global leader in offshore wind energy, and in antitrust proceedings before the Office of Competition and Consumer Protection.
As part of the transaction, ZE PAK entered into a share purchase agreement with Ørsted regarding five project companies, whereby ZE PAK acquired from Ørsted 50% of shares in the share capital of five joint venture companies. The parties also entered into a shareholders' agreement defining the principles of corporate governance in the above companies.
The establishment of a consortium with a 50% share of each company will enable joint application for location permits for the construction of wind farms in the Polish part of the Baltic Sea.
The Transaction is led by Partner Daniel Kaczorowski who is supported by Senior Associate Agnieszka Stopińska.
The transaction was preceded by obtaining the consent of the President of the Office of Competition and Consumer Protection to a concentration involving the establishment by ZE PAK and Ørsted of five joint venture companies, on which Partner and head of the antitrust practice Robert Gago and Senior Associate Anna Celejewska-Rajchert advised on.
"Congratulations to our Client - ZE PAK on this next stage of its strategic development on which Greenberg Traurig is honored to advise. This transaction is extremely important, not only because of the environmental and sustainability aspects, but also because of our Client's efforts to guarantee economic and social security in regions particularly vulnerable to the consequences of phasing out coal," said Daniel Kaczorowski, Partner in the Warsaw office of Greenberg Traurig law firm.
ZE PAK is phasing out coal and declares it will replace coal-fired capacity with clean energy by 2030, while Ørsted has developed the world's largest portfolio of 28 offshore wind farms with a capacity of about 7.6 GW. The above investment will be accompanied by activities supporting the economic and social security of Eastern Wielkopolska, where ZE PAK actively operates. Greenberg Traurig provides comprehensive legal advice on the transaction.
Ørsted is the world's largest and most experienced producer of offshore wind energy. The company has been developing and scaling this technology for more than 30 years, implementing innovative solutions and contributing significantly to cost reductions to current competitive levels. Ørsted is a public utility company controlled by the Danish government. The company has built 28 offshore wind farms with a total capacity of 7.6 GW from the U.S. to Europe to Asia Pacific.Greenberg Traurig, recognized as one of the leading law firms in Poland, was recently named 2021 “Law Firm of the Year in Poland” by International Financial Law Review (IFLR) and was also awarded “Poland Firm of the Year” at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe.” “MergerMarket” ranks the firm as the No. 1 firm with respect to the value of M&A transactions handled in Poland in 2021, with the value of almost 7 USD billion.
Greenberg Traurig LLP
Greenberg Traurig, LLP is a global, multi-practice law firm with approximately 2400 attorneys serving clients from 42 offices in the United States, Latin America, Europe, Asia, and the Middle East.
GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. was named the 2021 Poland Firm of the Year award at the highly esteemed Euromoney Legal Media Group “Women in Business Law Awards 2021 Europe” and the 2021, 2019, 2018 Law Firm of the Year in Poland by International Financial Law Review (IFLR). The Warsaw office of Greenberg Traurig, LLP provides legal services to clients in Central Europe and beyond and consists of approximately 100 lawyers. Team members are regularly recognized as leaders in numerous practice areas. Chambers Global, Chambers Europe, IFLR1000 and EMEA Legal 500 consistently rank them among the top tiers the areas of Corporate/M&A, Capital Markets, Real Estate, Private Equity, Tax, Banking and Finance, Project Finance, Energy, Dispute Resolution and TMT.
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