Quaero Capital Acquires 49% Stake in Vilnius CHP Plant from Ignitis Group, Advised by Sorainen and Ellex

Sorainen advised Quaero European Infrastructure Fund III, managed by Quaero Capital, and Ellex advised the Ignitis Group in connection with Quaero’s agreement to acquire a 49% stake in the Vilnius Combined Heat and Power (CHP) plant in Lithuania. Under the agreement, 100% of the plant’s equity is valued at EUR 244 million and the 49% stake is valued at EUR 120 million, comprising a fixed purchase price of EUR 110 million and a conditional earn‑out of EUR 10 million linked to the CHP’s performance. The Vilnius CHP plant has an electrical capacity of up to 93 megawatts and a thermal capacity of up to 239 megawatts. It uses post‑sorting non‑recyclable municipal waste and locally sourced renewable biomass as fuel. Sorainen represented Quaero European Infrastructure Fund III, managed by Quaero Capital, with a team composed by: Partners Sergej Butov and Monika Malisauskaite‑Vaupsiene; Counsels Andrius Simkus, Gerda Skirbutiene and Raminta Karlonaite‑Durnan; Senior Associates Michailas Molis, Aliaksei Vashkevich, Julija Kirkiliene, Linas Petronaitis, Marika Grunte and Povilas Uzkuraitis; and Associates Danas Sniute, Radvile Kvederaite, Barbora Bernatonyte and Ryte Reciunaite. Ellex represented the Ignitis Group, with a team composed by: Partner Ramunas Petravicius; Karolis Kacerauskas; Sarunas Keserauskas; Senior Associate Andrej Jemeljanov; Expert Arvydas Gruseckas; and Associate Patricija Mazeikaite.

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Quaero Capital Acquires 49% Stake in Vilnius CHP Plant from Ignitis Group, Advised by Sorainen and Ellex

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Quaero Capital Acquires 49% Stake in Vilnius CHP Plant from Ignitis Group, Advised by Sorainen and Ellex

Read the full story

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