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1 August 2011

Asters advised First Reserve Fund on acquisition of joint control over Finmeccanica's Ansaldo Energia


Asters has advised First Reserve Group, a private equity fund specializing in the energy industry, in merger clearance with the Antimonopoly Committee of Ukraine for acquisition of joint control over Finmeccanica SpA's Ansaldo Energia SpA, which is active in power generation systems and components.

First Reserve Fund XII, LP is an investment fund of the First Reserve Group, specializing in the energy industry, including oilfield services, energy infrastructure, and power and energy reserves. It generally targets investments in global energy companies with enterprise values of up to USD10 billion. Finmeccanica is an Italian undertaking whose main activities focus on aerospace, defence and security. Ansaldo Energia is a subsidiary of Finmeccanica active in the power generation systems and components sector whose customers include public sector agencies, independent producers and industrial companies.

Prior to transaction Ansaldo Energia SpA was solely controlled by Finmeccanica SpA. Pursuant to the agreement of the parties, a UK-based subsidiary of First Reserve Fund XII, LP acquires a 45% stake in and joint control over Ansaldo Energia SpA.

Asters' team working on the project included associates Tetiana Vovk and Olena Stepanenko, led by partner Igor Svechkar.

This project followed a number of recent merger clearance cases successfully handled by Asters antitrust team, including combination of VimpelCom Ltd. with Wind Telecom SpA to create world’s sixth largest mobile telecommunications provider.



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