Greencoat Renewables PLC (ISE:GRP) entered into agreement to acquire 50% stake in Borkum Riffgrund 1 offshore wind farm from KIRKBI A/S and William Demant Invest A/S for €350 million on April 4, 2022. The wind farm was developed and constructed by Ørsted, which remains a 50% shareholder. The transaction is subject to regulatory clearance and is expected to close in Q2 2022.

Barry Murphy and Ronan VealeJ & E Davy acted as financial advisor to Greencoat Renewables PLC. Holger Kraft, Matthias Sethmann, Dorothée Janzen, Christiane Kappes, Fritz von Hammerstein, Martin Mohr, Dirk Baukholt, Tobias Kilian, Christoff Henrik Soltau, and Kai Neuhaus of CMS Hasche Sigle Partnerschaft von Rechtsanwälten und Steuerberatern mbB acted as legal advisor to Greencoat. Alexander Koch, Mathias Schönhaus, Joachim Habetha, Jörg Herwig, Christian Ritz and Lukas Rengier of Hogan Lovells International LLP acted as legal advisor to KIRKBI A/S and William Demant Invest A/S. Kromann Reumert acted as legal advisor to KIRKBI A/S and William Demant Invest A/S. Ørsted was advised by Hengeler Mueller. Louise Rasmussen and Lars Villumsen of FIH Partners A/S acted as financial advisor to sellers. Hengeler Mueller acted as legal advisor to Greencoat Renewables PLC (ISE:GRP).