White & Case Advises FIMER on Acquisition of ABB's Solar Inverter Business
Global law firm White & Case LLP has advised FIMER S.p.A., a leader in the inverter market for renewable energy, on an agreement to acquire ABB's solar inverter business.
ABB's solar inverter business has approximately 800 employees in more than 30 countries, with manufacturing and R&D sites located in Italy, India and Finland, and revenue during 2018 of approximately US$290 million.
The acquisition is expected to complete during the first quarter of 2020 and is subject to certain conditions, including the effective carve-out of the solar inverter business from the rest of ABB.
The White & Case team which advised on the transaction comprised partners Ferigo Foscari (Milan), Matthias Kiesewetter (Hamburg) and Mark Powell (Brussels), local partner Alessandro Seganfreddo (Milan) and associate Moritz Mueller-Buttmann (Hamburg).
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