International legal practice Norton Rose has advised Danish wind energy and property development company, EuroTrust A/S on its admission to AIM and delisting from NASDAQ. The transaction was particularly complex as it involved not only the admission of the company’s entire share capital to trading on AIM but also the delisting of the company from NASDAQ and the de-registering from SEC.
At present, EuroTrust has in operation through its subsidiaries and joint ventures wind farms in Germany and Italy with a total operational capacity of 79 MW and approximately 92 MW under development in Poland and Spain. It also has 50 commercial and residential property developments in Denmark, Norway and Austria. On Admission, EuroTrust had a market capitalisation of approximately €440 million. EuroTrust is the only Danish company currently listed on AIM.
The Norton Rose team was led by corporate partner Richard Sheen, assisted by Rosamund Brown, Sanna Lehti and Janelle Cain. US corporate finance advice was provided by US corporate partner Thomas Vita with assistance from Todd Hamblet and Hallie Eads. The due diligence involved German corporate partner Jochen Terpitz assisted by Sebastian Karpe in Frankfurt and Italian corporate partner Arturo Sferruzza assisted by Elisabetta Negrini in Milan.
The nominated adviser, Cenkos Securities Limited, was advised by Travers Smith.