Norges Bank Investment Management’s EUR 1.375 Billion Acquisition Of Ørsted’s Interest In The Borssele 1 & 2 Offshore Wind Farm

In UK Slaughter and May, advised on the matter.

Slaughter and May advised Ørsted with a team including Gareth Miles (Tax M&A and Deal Advisory), Azadeh Nassiri (Picture – Energy & Infrastructures), Richard Todd (Energy & Infrastructures), Lisa Wright (Competition Law).

Ørsted disposed a 50% interest in the 752 MW Borssele 1 & 2 Offshore Wind Farm to Norges Bank Investment Management (NBIM).

The Borssele 1 & 2 Offshore Wind Farm lies 23km off the coast of Zeeland in the Netherlands. It was commissioned in Q4 2020 and is the largest operational offshore wind farm in the Netherlands and the second largest operational offshore wind farm in the world, generating green power in an amount equivalent to one million Dutch households’ annual power consumption.

The total value of the transaction is approximately EUR 1.375 billion.

The divestment to NBIM is subject to regulatory approvals. Closing is expected around summer 2021.

Slaughter and May’s team included Azadeh Nassiri (Picture), Partner, Richard Todd, Partner, Adrian Barrus, Senior Counsel, Bronwen Hutchison, Associate, Rory Botros, Associate, Adam Burk, Associate, Iain McCann, Associate, Daniel Mewton, Associate, Nicole Hunter, Associate, Jessica O’Sullivan, Associate, Mary Kiernan, Trainee, Gareth Miles,  Partner, Sarah Osprey, Associate, Lisa Wright, Partner and Anders Jay, Associate.

Involved fees earner: Adrian Barrus – Slaughter and May; Rory Botros – Slaughter and May; Adam Burk – Slaughter and May; Nicole Hunter – Slaughter and May; Bronwen Hutchison – Slaughter and May; Anders Jay – Slaughter and May; Iain McCann – Slaughter and May; Daniel Mewton – Slaughter and May; Gareth Miles – Slaughter and May; Azadeh Nassiri – Slaughter and May; Jessica O’Sullivan – Slaughter and May; Sarah Osprey – Slaughter and May; Richard Todd – Slaughter and May; Lisa Wright – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Ørsted;

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Author: Giulia Di Palma

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