Deals

DELSOL Avocats advises EDF on acquiring a stake in SunCulture

DELSOL Avocats advised the EDF group in its move into Africa’s off-grid market by acquiring a stake in Kenyan firm SunCulture.

SunCulture designs and sells solar pumps and irrigation systems. Its flagship product, the Rain Maker, is a connected solar pump solution designed for smallholdings with no access to the power grid, offering them an alternative to petrol-driven or manual pumps.

EDF’s involvement will take the form of financial instruments convertible into shares.

EDF is keen to support SunCulture in the large-scale deployment of its products across Kenya and West Africa. EDF’s ultimate objective is to support SunCulture’s growth by becoming its reference industrial shareholder.

EDF was advised by a DELSOL Avocats team consisting of partner Philippe Malikian and associate Claire Pecquet from the Corporate – Mergers & Acquisitions Department, and partner Mathieu Le Tacon and associateLéa Zerilli from the Tax Law Department.