Elias Neocleous & Co LLC Advices Greenmont Aiflnp LTD on its Private Equity Investment in Nace Energia in Spain.

During Q2 of 2020, our Financial Services and Regulation, Corporate and Commercial as well as Energy teams assisted our valued client, Greenmont AIFLNP Ltd (“Greenmont”), a Cyprus-authorized alternative investment fund on the Cyprus law aspects of its private equity investment in Nace Energía (“NACE”).

The deal closed in July 2020 with Greenmont acquiring a shareholding stake , subject to usual post-closing Spanish law conditions and authorizations as applicable. It is our pleasure to have been part of this transaction, reported in various media to be  the largest Series A funding of a start-up in Spain and the third one in Europe in 2020. For links to media and press coverages on this deal please refer here, here and here.

Our team advised Greenmont over the Cyprus law fund regulatory, contractual, energy and corporate law related aspects and matters of the deal working alongside the Spanish law advisors (Araoz & Rueda) of our client. The team comprised of Dimitris Papoutsis (Legal Consultant), Michael Pelosi(Legal Counsel), Demetris Roti (Partner), Elena Fantis (Associate), Rafaella Michael (Associate) and Ioannis Sidiropoulos (Associate).

Greenmont is a private equity alternative investment fund with limited number of persons, authorized and regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) for the internal management of its portfolio of investments. Greenmont’s investment objective is to ensure the long-term growth of capital and income of its investors by investing in a portfolio consisting primarily of equity securities of both publicly listed and unlisted companies or other investments in various sectors.

NACE , the counterparty and target of Greenmont’s investment is a Spanish electricity company, which produces and supplies renewable energy along with energy efficiency solutions for small- and medium-sized entities (SMEs) as well as domestic users in Spain and in terms of number of SMEs- clients is categorized among the thirty largest electricity companies.

For more information over this matter, please contact Dimitris Papoutsis or your usual contact in Elias Neocleous & Co LLC