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Allen & Overy advises Omnes on its acquisition of a minority stake in TagEnergy

Allen & Overy has advised Omnes, a leading private equity and infrastructure investor, in connection with the acquisition of a minority stake in global clean energy enterprise TagEnergy, for an amount of EUR150 million.

Omnes, in particular with its Capenergie 4 fund, as well as TagEnergy majority shareholder Impala SAS Group and asset manager Mirova, through its new Energy Transition fund, aim at investing EUR150 million each in the fund raising.

The EUR450 million capital injection will further accelerate the energy transition by driving the initial delivery of TagEnergy’s growing portfolio of more than 2.7GW in five countries – the UK, Spain, Portugal, France and Australia.

Impala and TagTeam Holding, the holding company for TagEnergy’s manager-shareholders, will continue to control the company. Impala remains the main shareholder with the largest stake under the new shareholding structure. Mirova and Omnes each hold a strong minority share.

With over EUR3 billion under management purely in renewable energy investments, Omnes, which has over EUR5 billion of assets under management, has developed specific expertise in renewables and has become a leader in transforming European developers into independent power producers. TagEnergy represents the ninth investment of its Capenergie 4 fund which already has ownership of more than 17GW of projects in 14 countries.

The Allen & Overy team in Paris was composed of Alexandre Ancel (Partner), Romy Richter (Partner) and Flora Leon-Servière (Senior Associate), with Florence Ninane (Partner) and Clémence d'Almeida (Senior Associate) on competition law aspects.

The team also included the Allen & Overy office in Perth, Australia, with Goran Galic (Partner) and Gemma Witt, as well as Morais Leitão, Galvão Teles, Soares da Silva & Associados on Portuguese law aspects.