Allen & Overy advises on the leveraged infrastructure acquisition financing of Cube Infrastructure Fund III's purchase of MVV Energie CZ

The deal involved a complex debt push-down mechanism and required English, Czech and Luxembourg legal advice. A&O’s CEE English law banking team in Bratislava, led by Attila K Csongrady and Peter Redo, worked with A&O Prague’s Czech law experts Petra Mysakova, Pavel Prihoda and Barbara Midova, with support from Frank Mausen and Pierre-Henry Maroteaux in Luxembourg.

Attila K Csongrady commented: “We are delighted to have helped deliver another landmark transaction in the CEE infrastructure acquisition financing space, which has been increasingly active in recent years. MVV have invested significant time and effort to design a comprehensive decarbonisation strategy in recent years. The acquisition offers Cube Infrastructure a unique opportunity to invest in the Czech energy transition in a favourable regulatory environment with strong growth potential. The financing package offers a flexible and tailored solution for the acquisition and will support the company’s growth and development.”

Michal Kunc, Head of Acquisition & Leveraged Finance, Global Banking at Komerční banka remarked: “The acquisition of the Czech operations of MVV qualifies as one of the most important acquisition finance deals in the Czech Republic in 2022. Komerční banka is pleased to act as Mandated Lead Arranger and Agent for this landmark transaction of a significant infrastructure asset in times of high volatility and uncertainty in the energy sector. We greatly appreciate the role of Allen & Overy, who have professionally navigated the financing banks through the complex credit process and certainly contributed to the success of the transaction.”

John Weiland, Head of Banking at Kommunalkredit, one of Europe’s leading financial franchises in the Infrastructure and Energy sectors, commented: “Kommunalkredit has, for a while now, been at the forefront of advising on and arranging tailor-made financing solutions for sponsors like CUBE who are committed to expedite the energy transition in Central and Eastern Europe. Given the various layers of both commercial and legal topics in this transaction, it was paramount to us to work with an experienced and trusted partner like Allen & Overy in order to deliver deal certainty for our client”.