January 2008: Acciona acquires the remaining 7% of Corporación Eólica, S.A. (CESA), which it does not own and becomes the sole owner of the business. The transaction completes the acquisition of 93% of the shares which it purchased from Mercapital, Bridgepoint and Grupo Arregui which valued the company at €1370 million in January 2006.
The purchase of these remaining shares was enabled by an agreement between Gala Capital and the former owners of CESA following a disagreement about the transmissibility of the shares.
SOCIOS advises Gala and the former owners of CESA on structures and valuation formulas which allow the parties to end the disagreement thereby paving the way for the sale of shares to Acciona.
