Akin Gump Strauss Hauer & Feld

This Practice Note considers the meaning of the term ‘structure’ in a project finance transaction and identifies the key issues which may inform the approach to structuring such a transaction. It explains a ‘plain vanilla’ project finance structure and then contrasts that with some of the innovations employed in the Azura Edo IPP project, a conventional power project in Nigeria. This Practice Note was produced in partnership with Julian Nichol, Robert Aulsebrook and Herman Park at Akin Gump LLP who have experience in the EMEA project finance markets and who co-advised (along with Clifford Chance LLP) emerging markets investor, Actis, on its acquisition of a majority stake in the Azura Edo IPP post-financial close.

This Practice Note, produced in partnership with Emma Simmonds of Akin Gump Straus Hauer & Feld LLP and Lois Deasey of Weil, Gotshal & Manges LLP, considers the elements of a transfer scheme under section 900 of the Companies Act 2006 (or schemes of reconstruction and amalgamation), the similarities and differences between them and section 895 schemes of arrangement (or Part 26 schemes), the meaning of reconstruction and amalgamation and some deal analysis.