ČEZ is one of the largest companies in the Czech Republic and a leading energy group operating in central and western Europe. The ČEZ Group has committed to make the energy sector sustainable and more environmentally friendly. Aside from emission-free production, ČEZ’s main business includes energy distribution and sales, as well as supporting innovation and investments in clean-tech companies.

The proceeds of the bond will be used for general corporate purposes, but ČEZ undertakes that the proceeds will not be used for coal extraction and coal power expansion or maintenance. The key performance indicator for the bond is ČEZ reducing the amount of its carbon dioxide emissions (measured as carbon dioxide equivalent per megawatt hour (tCO2e/MWh)) by 57.5% by the end of 2030 versus the 2019 baseline. If ČEZ does not hit this target, a 75bps premium is payable on redemption of the bond.

With order books exceeding €2.7 billion, the bond priced very competitively in challenging market conditions.

Nick Hayday, partner, Head of Banking and Financial Services UK and Global Co-Chair of Banking and Finance, said: “This is a fantastic bond issue for ČEZ following its recent redemption of a €750 million bond issued in 2010, with a pricing strategy highlighting investor demand for European investment grade corporates in the international debt capital markets. We were very pleased to have once again provided English and Czech law advice to the managers.”

Alongside Nick Hayday, Dentons’ Debt Capital Markets team comprised associate Ed Varney and trainee Maria Polycarpou in London, and partners Jiří Tomola and Ondřej Bartoň, counsel Lukáš Poulík and senior associate Martin Fiala in Prague.

Dentons has a well-established reputation for advising on green and ESG bonds. Notable other deals include advising: (i) mBank S.A. on its debut green bond; (ii) CPI Property Group on its debut sustainability-linked bond, tender offers for its outstanding green bonds and new issues of green bonds; (iii) the joint bookrunners on sustainability-linked bonds issued by ČEZ, a. s. under its EMTN programme; (iv) Standard Bank of South Africa on its debut green bond; (v) Commercial Bank of Dubai on its debut green bond; (vi) the underwriters on the Isle of Man Treasury’s debut sustainable bond; (vii) Globe Trade Centre on its debut green bond; and (viii) Ignitis on the first-ever international corporate green bond to be issued from central and eastern Europe.

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“I’ve always been impressed by Kristy—not just her industry knowledge, but also the practical, real-world advice she gives clients and her strong communication and advocacy skills in and out of the courtroom,” said Tara Hall, Vice President of the Dentons Davis Brown Board of Directors. “She really shares our vision and brings that same commitment to supporting our energy clients with everything they need—from ordinance assessment to permitting to handling complex litigation.”

Before joining Dentons Davis Brown, Kristy practiced at the Des Moines office of the Fredrikson & Byron law firm for over seven years, where she advocated for clients before state and federal trials and appellate courts, the Iowa Utilities Commission, and local government boards.

“There’s a tremendous and growing need for legal support in the renewable energy space, and far too few attorneys do this work—particularly when it comes to litigation, permitting, and helping clients navigate rapidly changing local regulatory frameworks,” said Kristy. “Joining Dentons gives me the opportunity to help build something to serve growing industry demand by tapping into a deep bench of talented colleagues to collaboratively deliver the responsive, forward-thinking counsel clients need and deserve.”

Dentons Davis Brown’s energy practice is expanding, with the team actively handling a wide range of matters—from providing strategic support in transactional negotiations and due diligence to assisting clients with permitting and ratemaking proceedings to representing clients in litigation in state and federal trial and appellate courts. The team is growing capacity in a variety of areas, with a focus on advising clients and participating in state and local regulatory proceedings before the Iowa Utilities Commission and local boards of supervisors and adjustment, as well as associated litigation.

“Kristy’s deep experience and technical know-how make her an incredible partner to clients,” says Business Division Energy Department Chair and shareholder Christopher Talcott. “She’s there from the very beginning—identifying and managing risks, responding to threatened regulatory changes, applying for permits, and responding to potential legal challenges. Whether she’s working directly on behalf of a client or supporting them in the background, she can help them navigate.”

Kristy earned her undergraduate degree from Washington University in St. Louis in 2001. Afterward, she worked as a legal assistant in Washington D.C. before moving back to Iowa where she worked at Muscatine Power & Water and then again as an assistant at McKee, Voorhees & Sease in Des Moines. Kristy graduated from Duke University School of Law in 2015 and subsequently clerked for Justice David Wiggins at the Iowa Supreme Court and U.S. District Judge Robert Pratt in the Southern District of Iowa. She joined her former firm in 2017, where she focused on energy permitting and trial and appellate litigation.

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MPM operates market leading premium wet cat food brands, including Applaws, Reveal and Encore. MPM sells its products in over 50 countries and maintains sales channels across e-commerce and retail stores.

Partners Group will work with MPM’s experienced management team to accelerate the Company’s future growth. Key value creation initiatives will focus on further expanding sales in MPM’s largest markets, building operations in new markets, and reinforcing supply chain resilience.

The PE team advising Partners Group is led by UK Private Equity Head Spencer Baylin, Senior Associates Mark Inkester, Victoria Ho and Joshua Higgins and Associates, Eleanor Burkin, Angus Hancock and Sebastian de Boer.

Other teams advising on the transaction included: Tax partner Nicola Hemsley and senior associate Kirsten Hunt, Incentives partner Sonia Gilbert and associate Leon Kidd, Finance partner Richard Day and associate Joshua Malek, Antitrust partner Jennifer Storey, counsel Shruti Hiremath and associate Emmanuel Goriola, Tech Digital partner Zayed Al Jamil and senior associate Midori Takenaka, Employment partner Alastair Windass and senior associate Kristen Hammond, Regulatory partner Gunnar Sachs and associate Niklas Heinkes, Litigation partner Michael Lyons and senior associate Hannah Ovaisi, IP partner Don McCombie and associate Hayley Kwan, Derivatives partner Paget Dare Bryan and senior associate Rachel Robertson and Real Estate partner Alis Pay and associate Madison Hughes.

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The development financiers provided a first US$55 million long-term loan to IPT Powertech Group in 2019. Most recently, DEG, Finnfund and Proparco announced the financial close of another US$80 million DEG-led syndicated facility for the IPT Powertech Group. The recent financing supports working capital and capital expenditure for telecom energy projects in several developing jurisdictions including Guinea, Guinea-Bissau, and Sierra Leone.

IPT Powertech Group invests in decentralised energy solutions for mobile network operators in Africa and the Middle East. The company delivers hybrid energy solutions – solar, batteries, and generators – for mobile networks, cutting costs and CO2. Optimized hybrid solutions reduce energy use by up to 40% and lower diesel reliance through a shift to solar energy.

The Clifford Chance team advising the lenders on this transaction was led by partner Anna Thwaites and comprised of counsel Jason London, senior associate Jan Adriaan Botha and trainee solicitor Colette Butler (all Global Financial Markets, Frankfurt).

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Lilly plans to commence a tender offer to acquire all of the outstanding shares of Verve for a purchase price of $10.50 per share in cash (an aggregate of approximately $1.0 billion) payable at closing, plus one non-tradeable contingent value right (CVR) per share that entitles the holder to receive up to an additional $3.00 per share, for a total potential consideration of up to $13.50 per share in cash without interest (an aggregate of up to approximately $1.3 billion), upon the achievement of a future milestone.

The Kirkland team included corporate lawyers Keri Schick Norton, Sarkis Jebejian, Steven Choi, Siqi Li, Victor Simonte and Anne Hicks; capital markets lawyers Sharon Freiman, Sophia Hudson, Rebecca Cho, Ryan Paulish and Zach Stricklin; antitrust & Competition lawyers Andrea Murino and Margarita Karkantzou; technology & IP transaction lawyers Shellie Freedman, Rami Sherman, Andy White and Leonor Suarez; and executive compensation lawyers Rob Fowler, Sally Ye and Jenny Cha.

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Latham & Watkins advises Gamma Intermediate S.à r.l. (a company incorporated on behalf of funds managed by Apollo Management IX, L.P.), in the sale through an accelerated bookbuilding of 53,555,556 ordinary shares of Lottomatica Group S.p.A. at a price of €22.50 per share. The total gross proceeds correspond to approximately €1.205 billion.

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Osaic, Inc. (Osaic), one of the nation’s largest providers of wealth management solutions and a portfolio company of Reverence Capital Partners, has announced the acquisition of CW Advisors, LLC (CW Advisors), a Boston-based registered investment advisor (RIA) managing US$13.5 billion in fee-only client assets. CW Advisors serves high-net-worth and ultra-high-net-worth clients through its core wealth management and family office platform, with 140 professionals across 17 offices.

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Latham & Watkins LLP represents Premji Invest in the transaction with an Emerging Companies & Growth team led by Bay Area partner Alex Kassai, with associate Eric Znotins.

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Latham & Watkins LLP represented Lineage in the offering with a corporate team led by Century City/New York partner Lewis Kneib, Century City partner Brent Epstein, and Los Angeles counsel Devon MacLaughlin, with associates Eric Finkelberg, Tristan Schmoor, and Steve Hess. Advice was also provided on tax matters by Century City/Los Angeles partners Pardis Zomorodi, Eric Cho, and Century City counsel Will Kessler, with associates Ryan Brenner and Cole Frost, and on finance matters by New York partner Kendra Kocovsky.

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Latham & Watkins LLP represents PECO in the offering with a corporate team led by Century City/New York partner Lewis Kneib and Los Angeles/New York partner Julian Kleindorfer, with associates Grace Garcea, Teddy Finneran, and Steve Hess. Advice was also provided on tax matters by Los Angeles/Century City partners Eric Cho and Pardis Zomorodi, with associate Kathryn Harrington.

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