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Latham & Watkins Advises on Sale of AZUR SPACE Solar Power to 5N Plus

March 31, 2021
Cross-border team represents seller in sale of global developer and producer of multi-junction solar cells.

Latham & Watkins advised Renewable Investments Holding SA (which is controlled by a leading European insurance group) on the sale of AZUR SPACE Solar Power GmbH (AZUR) to 5N Plus Inc. (5N Plus).

5N Plus will acquire all of the issued and outstanding shares of AZUR for an expected total purchase price between €73‐79 million subject to prevailing closing adjustments. AZUR is a global leader in developing and manufacturing multi‐junction solar cells for space and terrestrial concentrated photovoltaic applications.

The Latham team was led by London corporate partner Nick Benson, with associates Medha Marathe, Janine Leeder and Róisín Mbonu. Advice on German law aspects was provided by Hamburg associate Daniel Kreutzmann and counsel Jana Dammann.