Allen & Overy advises PATRIZIA on entering the ultrafast EV charging sector in Germany
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The EUR 140 million will finance the installation of 400 ultrafast EV charging stations developed by Numbat at 200 locations of the supermarkets chain Tegut across Germany. As part of the transaction, PATRIZIA has provided a convertible loan to Numbat, an expert in developing and operating high power EV charging solutions. PATRIZIA has also secured the right to finance further Numbat EV charging rollout programmes across Europe.
The deal presents significant upside potential and attractive growth opportunities. In the underlying exclusive contract with Tegut, a long term exclusivity with the supermarket chain has been agreed to install and operate EV charging stations at their current and future locations in Germany. The future expansion of Tegut's rooftop solar will deliver locally produced renewable energy to the charging stations.
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi professional and private investors for 39 years. PATRIZIA currently manages assets in the amount of around EUR 58 billion and employs over 1,000 professionals at 28 locations worldwide.
Numbat, a cleantech company based in Kempten in southern Germany, provides innovative solutions with an environmentally friendly approach to combat climate change: high power chargers (HPCs) in the growth field of e mobility with integrated battery storage for energy management solutions and a patented multi lifecycle concept.
In managing this transaction, Allen & Overy again underlines its expertise in the field of renewable energies, in particular solar technology and charging infrastructure.
The Allen & Overy team was led by partner Dr Nicolaus Ascherfeld, and included partners Max Landshut (both Corporate/M&A), Dr Christian Hilmes (Real Estate, all Hamburg), Dr Sven Prüfer (Corporate/M&A), Wolfgang Melzer (Banking & Finance) and Dr Udo H. Olgemoeller (Public Law, all Frankfurt), counsel Marie-Luise von Buchwaldt and senior associates Christin Schlorf (both Corporate/M&A, both Hamburg), Stefanie Günther (Public Law), Dr Tobias Wintermantel (Banking & Finance, both Frankfurt), Catharina Glugla (Data Protection) and Anna Kräling (IP, both Duesseldorf). The team also included associates Frederik Hillmann, Jakob Kauffeldt, Kornelius Lotha, Juliana Palavra Gorgueira (all Corporate/M&A, all Hamburg), Claudia Andermann (Corporate/M&A), Dr Dennis Jurdt (Public Law), Dr Simon König (Real Estate), Ilke Meissner, Alan Markgraf (both Banking & Finance, all Frankfurt), Katharina Jünemann (IP) and Pascal Yves Schröder (Data Protection, both Duesseldorf), as well as senior transaction officer Laura Thiel (Frankfurt) and transaction officer Dario Barbato (both Corporate/M&A, Hamburg).