Senvion GmbH sells business operations in India
Under the lead management of GÖRG restructuring experts Dr. Thorsten Bieg and Prof. Dr. Gerrit Hölzle, the self-administration of the insolvent wind turbine manufacturer Senvion GmbH ("Senvion") has sold 100% of its business operations in India ("Senvion India") to Global Renewable Energy Development Holding Company Limited. Senvion's self-administration team negotiated and prepared the transaction over several months.
Senvion India is a full-fledged OEM active in the business areas of wind turbine manufacturing, turnkey EPC solutions with project development, O&M and asset management. The transaction is subject to regulatory approval and is expected to close in Q1 2021. DLA Piper and Cyril Amarchand Mangaldas acted as legal advisors.
After Senvion had to file for insolvency in spring 2019, GÖRG partners Dr. Thorsten Bieg and Prof. Dr. Gerrit Hölzle were appointed to the firm's management. In the course of the self-administration proceedings led by GÖRG, the wind turbine manufacturer's European onshore service business was already sold to Siemens Gamesa at the beginning of this year.
Advisors Senvion GmbH
GÖRG Partnerschaft von Rechtsanwälten mbB / GÖRG Rechtsanwälte/Insolvenzverwalter GbR
Dr. Thorsten Bieg, Partner, Restructuring, Hamburg
Prof. Dr. habil. Gerrit Hölzle, Partner, Insolvency Administration, Bremen
Dr. Karl-Friedrich Curtze, Assciated Partner, Restructuring, Hamburg
Amit Kansal, CEO Senvion India
Pathik Arora, General Counsel Senvion India
Deepak Bapna, CFO Senvion India
Servet Sert, CTO Senvion
External Senior Industry Advisors
Rothschild & Co.
Legal and Tax Advisors
Dr. Benjamin Parameswaran, Corporate/M&A, Hamburg
Cristina Helena Villafrade, Corporate/M&A, Hamburg
Cyril Amarchand Mangaldas
Smruti Shah, Mumbai
Aviral Chauhan, Mumbai
GLAESER TAX GmbH
Benjamin Gläser, Tax, Hamburg