Post by Gustaf Erlandsson

Not every transaction you work on is ground-breaking or becomes public, but sometimes you work on transactions that are the first of its kind and which get announced by the Prime Minister of Sweden. Happy to have been acting for the Swedish State on the debt financing part of the build-out of new nuclear power in Sweden. Baker McKenzie has advised the Swedish State (Regeringskansliet) in connection with its agreement to acquire a majority shareholding in Videberg Kraft from Vattenfall. Under the agreed ownership structure, the State will hold 60 per cent of the shares, while Vattenfall and Industrikraft Sverige will each remain as 20 per cent shareholders.   The investment is intended to support Videberg Kraft’s long-term role in the development of new nuclear power in Sweden by establishing a durable ownership and financing framework for the project.   As part of the transaction, the parties have also agreed on key principles of the future support package, risk allocation scheme, and financing of Videberg Kraft. The project is expected to be notified to the European Commission for state aid review as the next step in the process.   The Baker McKenzie team principally consisted of William-James Kettlewell, Annika López Kasteskog, Mattias Hedwall, Carl Svernlöv, Melinda Roos, Magdalena Jener, Mats Rooth, Gustaf Erlandsson, Christopher Jones, Bram Hoorelbeke, James Wyatt and Alicia Hatvany.