Baker McKenzie advised First Solar, Inc. (Nasdaq: FSLR), a leading American solar technology company, on the sale of its international Operations and Maintenance (O&M) business comprising various non - U.S. countries to NovaSource. This transaction completes the prior sale of its North American O&M business to NovaSource in 2021.
Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels.
NovaSource is a portfolio company of Toronto-based private equity firm Clairvest Group Inc. (TSX: CVG), a leader in the Canadian private equity industry with approximately USD 3.2 billion of capital under management.
"This transaction enables our client to further focus on its core business and strengthen the module supply business with the next PV modules generation. Thanks to the well-established cooperation with the global in-house team and our cross-border experience we were able to conclude the complex transaction successfully", commented Silke Gantzckow, lead of the transaction.
The global team was led by Silke Gantzckow, assisted by Kathrin Weber (Germany, Frankfurt) in the German core team, as well as several offices worldwide and partner firms.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions. Most recently, Baker McKenzie advised, among others, Sika on divestment of business of MBCC Group to INEOS, Fluidra on its acquisition of Meranus Group, Magna on the acquisition of Veoneer's Active Safety Business, MicroVision on the acquisition (asset deal) of the business of Hamburg based Ibeo Automotive Systems, Trane Technologies on the acquisition of AL-KO Air Technology, Pacoma on the sale to L&P, Deutsche Beteiligungs AG (DBAG) on its investment in vhf Group, VINCI Energies S.A. on the acquisition of parts of Kontron AG, AURELIUS on the acquisition of AGFA Offset Solutions and of Footasylum from JD Sports, FUNKE Digital on the acquisition of Baseplus DIGITAL MEDIA GmbH, Knorr-Bremse AG on the sale of its stake in Haldex AB to SAF-Holland SE, Siemens on the sale of its Commercial Vehicles business to Meritor and Sika AG on the acquisition of the MBCC Group.
Legal advisor to First Solar, Inc:
Baker McKenzie
Lead:
Corporate/M&A: Silke Gantzckow (partner, Frankfurt), Kathrin Weber (senior associate, Frankfurt)
Several offices worldwide as well as partner firms