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London, February 12, 2010 – The international law firm Gianni, Origoni, Grippo & Partners was awarded two prestigious “Project Finance Deals of the Year Awards” by the international magazine Project Finance.
The “European Oil & Gas Deal of the Year” award was won in reference to the Enel Rete Gas financing. The deal, which sees the acquisition on behalf of the Italian infrastructure fund F2i of 80% of Enel Rete Gas, is considered the largest European LBO in 2009. In particular, the buyer - F2i /AXA Private Equity - was assisted by Senior Partner Francesco Gianni and Partners Raimondo Premonte and Mauro Sambati. Also involved in the deal were Partner Matteo Bragantini, concerning the financing granted by the pool of banks; Partner Giuseppe Velluto and Associate Dante Micalella for all Regulatory matters; Partner Mario Todino for all Antitrust related issues.
According to the jury, the sheer volume of the deal, the combination of leveraged and project finance methodologies and the closing during tough market times makes it stand out as deal of the year.
The “European Solar Deal of the Year” award was granted to project company Cassiopea for the Renewable Energy 24 MW PV plant at Montalto di Castro, Lazio which is considered the largest PV project to date in Italy. The lenders - Banca Infrastrutture Innovazione e Sviluppo, Société Générale and WestLB AG – were assisted by Partner Ottaviano Sanseverino, Senior Associate Maria Panetta and Associate Maria Miriam Loizzi for all administrative-related issues as well as for the project’s contract negotiations.
Notwithstanding the credit crunch as well as various financial, litigation and permitting obstacles, this deal was a large success and, according to the jury, “an example for all future transactions in this sector”.
