Hungary: Schoenherr advises Vista Bank (Romania) on EUR 90m syndicated financing for Premier Energy's Hungary acquisition

The transaction saw the sale of 100 % of the shares in Iberdrola Renovables Magyarország Kft. to the Romanian-Hungarian consortium for a total consideration of EUR 171m, comprising EUR 128m for the shares and EUR 43m paid through a dividend distributed prior to closing. Premier Energy Group acquired a 51 % stake with management control, while iG TECH CC Zrt. acquired the remaining 49 %.

The financing was structured as a EUR 90m secured credit facility provided by Vista Bank (Romania) and Greece-based Optima Bank. Schoenherr's role encompassed advising Vista Bank on all legal aspects of the financing arrangement, including the structuring and documentation of the finance documents.

The acquisition involved 158 MW of operational onshore wind capacity across 79 wind turbines, representing approximately half of Hungary's total operating wind farm capacity. Iberdrola had developed and operated these assets since entering the Hungarian market in 2008. 

The acquisition marks a significant step in the Premier Energy Group's regional expansion strategy and reinforces its position as one of the most dynamic integrated energy companies in Central and Southeastern Europe. 

"This transaction represents a significant financing in the Central Eastern European renewable energy sector," said Gábor Pázsitka, Partner at Schoenherr. "We are pleased to have supported Vista Bank (Romania) in facilitating this important acquisition, which marks a milestone in the development of Hungary's renewable energy landscape."

The Schoenherr team advising Vista Bank was led by Gábor Pázsitka (Partner) and further included Nóra Ordódy-Nagy (Attorney at Law), András Gaál (Associate) and Vivien Veres (Associate)