Consortium of investors, co-led by Schneider Electric S.E. (ENXTPA:SU) agreed to acquire an unknown majority stake in Uplight, Inc. from Rubicon Technology Partners, Uplight management and others on March 3, 2021. The transaction values Uplight at $1.5 billion. Under the terms of the agreement Schneider will acquire 30% stake in Uplight. Post completion of the transaction, AES Corporation's stake in Uplight will increase to 30% and Rubicon and Uplight's management will continue to hold a minority stake in Uplight. Rubicon Technology Partners and Uplight management will roll over a portion of their existing equity interests. The transaction is subject to regulatory approvals and and French social procedures. On April 29, 2021 The European Commission (EC) has unconditionally approved the transaction. The transaction is expected to close in coming months. Goldman Sachs & Co. LLC acted as financial advisor for Uplight. Paul Bird, Jonathan Lewis, Gary Friedman and Timothy McIver of Debevoise & Plimpton LLP acted as legal advisor for Schneider. Nomura Greentech acted as financial advisor for the consortium of investors. Suz Mac Cormac, Mike Krigbaum, Maureen Linch, Shane Shelley, Amanda Hines Gold, Julie O'Neill and Oswald Cousins of Morrison & Foerster LLP acted as legal advisor for Huck Capital and Due Diligence provider for Schneider.

Consortium of investors, co-led by Schneider Electric S.E. (ENXTPA:SU) completed the acquisition of an unknown majority stake in Uplight, Inc. from Rubicon Technology Partners, Uplight management and others July 29, 2021. Nathaniel G. Ford, Danielle Fortier, Chris Hall, Kelly Payne, Bryan Smith, Eric Ashcroft, Barry Reingold, Todd Hinnen, Ann Nagele, Tom Cristy, Sarah Flotte, Pete Kinsella, Liana Spendlove and Kester Spindler of Perkins Coie LLP acted as legal advisors to Uplight, Inc. and Rubicon Technology Partners.