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Mourant Ozannes' Guernsey corporate team has advised Japanese conglomerate, Mitsui, on the sale of its 25% interest in UK hydro power firm First Hydro to Brookfield Renewable, part of Mitsui's plans to implement steady, strategic asset recycling over the coming three years.
The transaction was effected through a reorganisation of the existing joint venture structure, including transfers and a reclassification of the shares in a Guernsey holding company and an immediately subsequent sale of shares by Mitsui to Brookfield. The remaining 75% interest was and remains held by France's ENGIE.
The Mourant Ozannes team, led by partner John Rochester with counsel Alex Davies, worked as offshore counsel alongside a team from leading onshore firm, Linklaters.
