Terra Firma completes sale of RTR to F2i
Terra Firma has completed the sale of RTR, the Italian solar energy platform, to F2i. RTR owns 134 Italian sites producing photovoltaic electricity, with a total installed capacity of 334 MW. The company was founded in 2009 and is based in Rome.
F2i secured EUR995 million (US$1.13 billion) financing for the acquisition from a consortium of lenders (Banca IMI, Crédit Agricole Corporate and Investment Bank, ING, BBVA, Société Générale, BNP Paribas, UBI, Banco BPM and Cassa Depositi e Prestiti) advised by Ashurst. The refinancing of the existing debt was included in the financing transaction.
Through this acquisition, F2i has become the third largest photovoltaic producer in Europe in terms of overall scale in production.
F2i received legal advice from Legance - Avvocati Associati and financial advice from Banca IMI (Intesa Sanpaolo Group), Barclays and Societe Generale. Terra Firma was assisted by Gianni Origoni Grippo Cappelli & Partners (legal) and Cantor Fitzgerald & Co, JP Morgan and UniCredit (financial).
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