December 29, 2017
Willkie’s Paris office advised the European Investment Bank (EIB) in a €55 million investment in Forsee Power, the specialist in smart battery systems for urban mobility.
Willkie recently advised EIB in connection with a €55 million debt and equity investment in Forsee Power. Acting through its European Fund for Strategic Investments (EFSI), EIB joined certain other investors, namely Mitsui & Co., Ltd and Idinvest Partners, in the deal. The investment will allow Forsee Power to launch the production of its smart battery systems for the electric transport market in Europe and China, facilitating a transition to sustainable energy for public transportation.
EFSI is one of the central pillars of the investment plan for Europe: the Juncker Plan. EFSI is an initiative launched jointly by the EIB Group, the European Investment Bank and the European Commission to help overcome the current investment gap in the European Union. EFSI aims to revive investment in strategic projects around the continent to ensure that money reaches the real economy, to make the European Union competitive and to create jobs. In France, the Juncker Plan continues to increase, with a total of 111 operations for a total amount of € 8.7 billion of investments.
The Willkie deal team was led by partner Amir Jahanguiri and national partner Gabriel Flandin and included associates Xavier Nassoy and Jesse Gero.
