Taylor Wessing advises Climate Exchange PLC on its acquisition of Chicago Climate Exchange, Inc and on the subscription for shares by Goldman Sachs

CLIENT

Climate Exchange PLC

VALUE

For the acquisition, £29m with additional deferred consideration of up to £12m; aggregate subscription price £12.2m.

TRANSACTION

Acquisition and shares subscription

DESCRIPTION

Taylor Wessing advised Climate Exchange plc ("CLE") on its acquisition of the 60% of issued shares in Chicago Climate Exchange Inc. ("CCX") which CLE did not already own. The initial consideration for the acquisition amounts to £29m with additional deferred consideration of up to £12m if certain pre-defined performance criteria are met over the next three financial years.  The initial consideration was satisfied by the payment of approximately £6.2m and the issuance of approximately 6.9m CLE shares.