Transactional advice in the acquisition of the CFB business from Amec Foster Wheeler

Sumitomo Heavy Industries, Ltd. (TYO:SHI), a Japanese concern, concluded with Amec Foster Wheeler plc (LON: AMFW) an agreement to acquire part of the Global Power Group, which includes firms in Finland, China, USA and the Polish companies: Amec Foster Wheeler Energia Polska and Amec Foster Wheeler Energy FAKOP. The transaction was valued at GBP 133 million.

Wardyński & Partners was involved in the legal due diligence of the Polish entities in the group, in transactional advice on Polish aspects of the deal, as well as notifying a concentration intention to the Polish regulator.

This transaction has large significance for the Polish market, because it means that the Amec Foster Wheeler Energia Polska plant in Sosnowiec, among others, will change ownership. Boilers from Sosnowiec have been installed, for example, in the 460 MW block at the Łagisza Power Plant and at the biomass block at ZE PAK. A further boiler is to be installed in the new Fortum power plant, which is being currently built in Zabrze.

The part of Amec Foster Wheeler purchased by Sumitomo Heavy Industries will create an independent global business unit within the Energy and Environment division and will continue its current operations in the fluidised bed boiler and environmental protection markets.

For Wardyński & Partners, it was another very interesting project of its Japanese desk, which also involved, in particular: Izabela Zielińska-Barłożek, Maciej Szewczyk, Andrzej Madała and Łukasz Śliwiński.