Shanghai Electric Power signs Final Agreement with Government of Malta
Chetcuti Cauchi is pleased to announce that after months of sophisticated negotiations, Shanghai Electric Power signed its Final Agreement with Maltese Government on the 12th December 2014. The deal represents the largest ever foreign direct investment in the Maltese islands, with a value of over EUR 300 million, and will see Shanghai Electric Power acquire a minority stake in Enemalta Corporation (restructured into Enemalta p.l.c as part of the deal) as well as a majority stake in the BWSC Delimara plant. As part of the deal, Shanghai Electric Power and Enemalta will also embark on a number of collaborations in the renewable energy and energy servicing fields.
Reaction as Shanghai Electric Power signs Energy Deal
Dr Jean-Philippe Chetcuti, managing partner of Chetcuti Cauchi Advocates, legal advisors to Shanghai Electric Power and its Chinese legal counsel on various contractual and structural aspects of the deal, commented: “the deal represents an important milestone for the Maltese economy, and highlights the firm’s breadth of expertise and ideal positioning as a partner for businesses looking to invest in Malta”.
Chetcuti Cauchi Advocates’ project lead Dr Charles Cassar added, “the project gave rise to a number of complex legal challenges and required a co-ordinated effort bringing together the firm’s various strands of expertise in corporate, administrative, property and contract law. Dr Charles Cassar continued saying: "we are very pleased to see that Shanghai Electric Power signed Final Agreement with Maltese Government, all come together and we’re sure the deal will be mutually beneficial for both of the commercial parties”
Largest Foreign Direct Investment in Malta's history
Chetcuti Cauchi Advocates is a full service commercial law firm with a focus on corporate, administrative, tax, financial services, banking, i-gaming and intellectual property law. The firm brings a multi-disciplinary approach to problem solving and regularly advises businesses looking to set up their operations in Malta or otherwise invest in the jurisdiction.
Our Energy & Resources Industry Group
Our Energy & Resources Industry Group assists major entities as well as start up companies in the gas, oil, utilities and power industries in identifying opportunities in this ever-evolving industry. Our professionals follow industry developments in the sector very closely, thus they are strategically positioned to advise on international developments, and opportunities as well as business issues. Drawing upon insight from our legal, tax and corporate practices, we are able to assist investors from the very inception of projects uptill their completion, offering unrivalled level of expertise all throughout. Whether it is applying for funding or securing trading and planning permissions, our team offers holistic solutions enabling clients to succeed in their endeavours. Whilst being a Malta Cyprus based firm, we serve clients from all around the globe, and thanks to our international connections in various jurisdictions, we have successfully engaged with corresponding firms located in the client’s target jurisdiction.