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Radiomarelli SA and Futurum Energy SA Enter into Multiple Transactions with Prime Acquisition Corp.

On August 30, 2013, our client Radiomarelli SA signed a Securities Purchase Agreement for the acquisition of approximately 14.3 million ordinary shares of common stock in Prime Acquisition Corp. at a price of $9.10 per share, for an aggregate purchase price of $130,000,000, subject to certain closing conditions.  In a related transaction, Radiomarelli SA and its affiliate Futurum Energy SA agreed to sell to Prime Acquisition Corp., subject to certain closing conditions, minority interests in several special-purpose entities that are developing photovoltaic plants in Romania and 100% interests in the “green certificates” that the Romanian government is expected to issue to those entities upon completion of the plants.  The aggregate purchase price for the minority interests and green certificates is approximately $380,000,000, payable in Prime Acquisition Corp. stock.

Corporate partner Christian Moretti and corporate associate Bryan J. Hall and Eugenio Siragusa and Pietro Zanoni of NCTM Studio Legale represented Radiomarelli SA.
 
Christian Moretti said: “This transaction showcased the quality and depth of our securities, regulatory and M&A practices contributing to our outstanding track record on advising European companies on innovative cross-border transactions. Our European Cross-Border practice in New York regularly manages complex and sophisticated cross-border transactions with components across multiple European jurisdictions, by leveraging our team’s extensive network of European relationships and regional and country-specific knowledge and experience.  We are pleased to have collaborated on this groundbreaking transaction with NCTM Studio Legale, a leading Italian and European law firm with a cutting-edge energy practice.  The strength of the relationship between our firms enabled us to provide Radiomarelli SA with a seamless and integrated team, spanning multiple jurisdictions and practice areas.”
 
 

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