LOS ANGELES, September 19, 2011 – International law firm Milbank, Tweed, Hadley & McCloy, LLP, led by Global Project Finance partner Karen Wong, represented BayWa AG, a German agricultural, energy and building materials company, in connection with its investment in the US wind development portfolio of WKN AG, an international wind power project management company based in Germany. Through its US subsidiary, BayWa acquired a 70-percent controlling interest in WKN USA, LLC from Windkraft Nord USA, Inc., a subsidiary of WKN AG. WKN USA is a well-known developer of wind projects. Its project pipeline comprises around 110 MW in ready-to-build projects plus a pipeline of 1,000 MW.
“This transaction demonstrates that the US wind power sector is ripe with opportunities for companies looking to expand their US reach through acquisitions, strategic partnerships and joint ventures,” commented Ms. Wong. “Milbank’s experience advising on corporate and M&A transactions coupled with our thorough knowledge of the renewable energy industry makes us uniquely positioned to advise on these kinds of transactions.”
Additional Milbank attorneys involved in this transaction include Tax partner Russell Kestenbaum; associates Tom Paschall, Joe Teltser, Francisco Luna; and regulatory advisor James Liles. The team also collaborated with Milbank’s Munich office, notably partner Norbert Rieger and associate Daniel Gubitz.
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