Global law firm White & Case LLP has advised Arcapita on the sale of Viridian Group Holdings Limited to I Squared Capital. The transaction is expected to complete during the second quarter of 2016.
"White & Case has a market leading private equity practice and was ideally placed to advise on this significant sell-side mandate," said White & Case partner Ian Bagshaw, co-head of the Firm's EMEA private equity group and who led the team with partner Caroline Sherrell. "This mandate demonstrates the breadth of our practice and highlights Caroline's particular strength in advising on transactions in the infrastructure and energy sector."
Viridian is an independent, integrated energy company operating across Northern Ireland and the Republic of Ireland. The Group has an approximate 20 percent share of domestic electricity sales volume and around 27 percent share of business electricity sales volume on an all-Ireland basis. The Group’s generation portfolio consists of 747 megawatts of gas-fired combined-cycle generating technology capacity and 225 megawatts of onshore wind assets in operation and construction. In addition, Viridian has 793 megawatts of operating wind-farms under long-term contracts which is expected to increase to c.1,000 megawatts in just over a year as other wind-farms, currently under construction and in-development, become operational.
"We are continuing to see strong competition for high quality assets in the infrastructure and energy sector, and the sale of Viridian is an excellent example of that," said partner Caroline Sherrell.
The White & Case team was led by partners Ian Bagshaw and Caroline Sherrell and supported by banking partner Martin Forbes and associates Thomas Cambidge and Edward Higbee.
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