Q-Energy Private Equity, S.G.E.I.C., S.A. completed the acquisition of Ence Energia Solar S.L. from ENCE Energía y Celulosa, S.A..
December 14, 2020
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Q-Energy Private Equity, S.G.E.I.C., S.A. agreed to acquire Ence Energia Solar S.L. from ENCE Energía y Celulosa, S.A. (BME:ENC) for approximately €170 million on November 20, 2020. Along with Ence Energia Solar, QEnergy will acquire 90% of Ence Energia Termollano which owns 50 MW CSP plant in Puertollano. The consideration of €168 million at enterprise value, including €81.5 million of net debt. Out of this amount, €82.5 million will be received at the closing of the transaction. Ence will also receive a deferred price of up to €4 million which are conditional upon future actions related to the plant's electrical connection facilities. Along with Ence Energia Solar, QEnergy will acquire 90% of Ence Energia Termollano which owns 50 MW CSP plant in Puertollano. Transaction is expected to close in December, 2020. Lazard Ltd (NYSE:LAZ) acted as financial advisor to ENCE Energía y Celulosa, S.A in the deal. Javier GarcÃa-Pita and Alejandro Meca of Linklaters advised on tax aspects to Q-Energy.
Q-Energy Private Equity, S.G.E.I.C., S.A. completed the acquisition of Ence Energia Solar S.L. from ENCE Energía y Celulosa, S.A. (BME:ENC) on December 15, 2020.
Ence Energia y Celulosa SA, formerly Grupo Empresarial ENCE SA, is a Spain-based company engaged in the operation of pulp mills. The Company' activities are divided into two business units: Pulp and Energy. The Pulp business unit is subdivided into three segments: Pulp, manufacturing pulp and pulp derivatives, such as lignin and biomass, as well as co-generating energy; Forest Management, providing forest crops and wood raw materials, and Forest Services & Other, including residual business activities, as well as forest support services. The Energy business unit focuses on generating energy using forestry and agricultural biomass, as well as, thermos and solar electric energy generation. The Company operates pulp mills and power generation plants in Spain.
ENCE ENERGÍA Y CELULOSA, S.A. 
