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Roberto K
#Sale of Power & Sol
I would like to follow up on our discussion of yesterday regarding the sale of #Power & #Sol.
My first comment is that we should keep in mind that we will sell those assets to an unrelated entity. "#TotalSolar” through its main Holding, #Total, is an investor in #TotalEren / #Novenergia but, as far as I know, it is not a controlling shareholder. This distinction can have consequences in the structure of the sale and the services to be provided as part of it.
Some thoughts on the transaction:
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1. Initial contact - it remains to be defined who will lead the negotiations with Total Solar;
2. Share Purchase Agreement - we will need to prepare one. Do we need to hire outside counsel?
3. Assets to be transferred - they need to be listed and well defined (ex. land contracts, licenses, etc.). It would be useful to start an inventory of all these now;
4. Interim period - as we now know that the assets will be sold - and the price - it brings into question what decisions we make between now and the SPA signing date (pre-interim period) as well as those actions between SPA and closing (interim period);
5. Services contract - Eng. Serranho is working on this document. Considering the fact that Total Solar is an unrelated entity there will be some issues that need to be thought through.
