Ashurst is the latest firm to win a role on the €780m purchase of Babcock & Brown’s Spanish wind farm portfolio by advising the purchaser on the financing for the transaction.
The acquisition was announced last year and led by Spanish construction firm Fomento de Construcciones y Contratas (FCC). The company said it would pay €190m for the assets owned by Babcock & Brown Wind Partners, which comprises 14 wind parks with a generation capacity of 421MW. FCC assumed €590m of debt as part of the agreement.
To back the purchase FCC obtained a
syndicated loan of €528m. Ashurst advised FCC on the financing through Madrid partner Juan Hormaechea. Linklaters worked for the banks. Other firms to have been involved in the deal included Norton Rose and Garrigues, which worked on corporate matters for FCC, and Babcocok's adviser Clifford Chance.
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