Sixth Street Acquires 38% Stake in Sorgenia

Cleary Gottlieb represented global investment fund Sixth Street in its acquisition of a 38% stake in Sorgenia, one of the leading players in the electricity and natural gas market in Italy, from F2i, Italy’s largest infrastructure fund manager.

At completion, Sorgenia will in turn acquire the EF Solare, Renovalia, and Renovalia Tramontana groups—all currently controlled by F2i and active in solar and wind power generation across Italy and Spain. The aggregate enterprise value of the transaction perimeter exceeds €4 billion.

Following completion of the transaction, F2i will retain control of approximately 62% of Sorgenia, while Asterion will exit the shareholding structure and Predica will maintain its current minority stakes in EF Solare and Renovalia.

The transaction consolidates Sorgenia’s position as one of Europe’s leading players in the energy transition sector, with an extensive portfolio encompassing renewable photovoltaic, wind, biomass, and hydroelectric facilities.

Completion of the deal remains subject to approval from the relevant regulatory authorities.