Linklaters advised BlackRock’s Global Renewable Power platform on the deal while Orrick advised IONITY.
BlackRock’s Global Renewable Power platform on its an investment in the charging network company IONITY.
IONITY, Europe’s leading high power charging network – open to drivers of all electric vehicle brands, and present in 24 countries – announced today a combined €700 million investment from its current shareholders and new partner, the BlackRock Global Renewable Power platform.
It will enable IONITY to increase the number of high-power 350kW charging points, all delivering 100% renewable energy for both emission-free and carbon neutral driving – by more than four times to 7,000 by 2025. The new charging points will be situated not only on motorways, but also near major cities and along busy trunk roads. Future locations will be built with a higher average of six to twelve charging points. Furthermore, existing sites along routes with high charging demand will be upgraded with additional charging points.
These measures will enhance the customers’ charging experience and make sure that the IONITY network is prepared for the increasing demand for electric vehicle charging.
IONITY is headquartered in Munich and is a joint venture between the car manufacturers BMW Group, Mercedes-Benz AG, Ford Motor Company, Hyundai Motor Group with KIA and Volkswagen Group with Audi and Porsche.
The investment is subject to customary closing conditions, including regulatory approvals.
The Linklaters team was led by Michael Honan (Picture – Partner, Corporate/M&A, London), Timo Engelhardt (Partner) and Ruprecht von Maltzahn (Managing Associate, both Corporate/M&A, Munich). The core team further comprised of Alexander Zitzl (Managing Associate, Tax, Munich) and Carol Sin (Associate, Corporate/M&A, London).
The Orrick team was led by Munich-based partner Thomas Schmid, who regularly advises on large-volume international corporate transactions, particularly in the tech sector.The Orrick team further included partners Christoph Brenner, Christine Kaniak-Hockel, Lars Mesenbrink and Stefan Schultes-Schnitzlein, senior associate Verena Schwarz, managing associate Robert Weinhold and associates Stefan Riedl, Alexandra Marchl, Viktor Philip Kolberg and Julia Fabian.
Involved fees earner: Timo Engelhardt – Linklaters; Michael Honan – Linklaters; Carol Sin – Linklaters; Ruprecht von Maltzahn – Linklaters; Alexander Zitzl – Linklaters; Christoph Brenner – Orrick Herrington & Sutcliffe LLP; Julia Fabian – Orrick Herrington & Sutcliffe LLP; Christine Kaniak – Orrick Herrington & Sutcliffe LLP; Viktor Philip Kolberg – Orrick Herrington & Sutcliffe LLP; Alexandra Marchl – Orrick Herrington & Sutcliffe LLP; Lars Mesenbrink – Orrick Herrington & Sutcliffe LLP; Stefan Riedl – Orrick Herrington & Sutcliffe LLP; Thomas Schmid – Orrick Herrington & Sutcliffe LLP; Stefan Schultes-Schnitzlein – Orrick Herrington & Sutcliffe LLP; Verena Schwarz – Orrick Herrington & Sutcliffe LLP; Robert Weinhold – Orrick Herrington & Sutcliffe LLP;