White & Case Advises Polenergia on More-Than PLN 1 Billion Public Shares Offering

Global law firm White & Case LLP has advised Polenergia S.A., Poland’s largest privately held, vertically integrated energy group, on its more-than PLN 1 billion public offering of AA series shares.

A total of 21,358,699 new ordinary bearer shares will be issued which, at a fixed price of PLN 47 per share, will allow Polenergia to raise more than PLN 1 billion. Approximately 24 percent of the shares were offered to Mansa Investments sp. z o.o., and around 51 percent to Brookfield Renewable Partners LP. The remaining shares were offered to other investors.

The proceeds will be used for the development and construction of zero-emission energy sources including offshore wind projects, onshore wind farms and photovoltaic farms, the development of electromobility, development and acquisitions in selected business areas and repayment of a short term loan to finance onshore wind farms.

The White & Case team in Warsaw which advised on the transaction included partner Rafał Kamiński and associates Monika Dużyńska and Michał Truszczyński.

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