A Gleiss Lutz team has advised the founders and other shareholders of ubitricity Gesellschaft für verteilte Energiesysteme mbH on the sale of 100 per cent of their shares in the company to the energy group Royal Dutch Shell. The shareholders include Heinz Dürr Invest, the Siemens subsidiary Next47, Honda, EDF, earlybird and VC Fonds Technologie Berlin. Closing of the transaction is still subject to the customary regulatory clearances.
Founded in Berlin in 2008, ubitricity has developed an intelligent charging and billing solution for the charging of electric vehicles. The solution enables technically simpler – and therefore cheaper – charge points to be integrated into existing road infrastructure such as lamp-posts and bollards. This provides low-cost charging options that are simple and flexible for e-drivers to use when parking on roads. The company has been working together with local public authorities across Europe to push ahead with the expansion of e-car charging infrastructure and achieve blanket coverage. With over 2,700 charging stations in the UK, ubitricity already operates the largest public charging network for electric vehicles.
Royal Dutch Shell is one of the world’s largest oil and gas companies. In addition to its classic oil and gas business, it is also active in chemicals and renewable energies. Shell already has a global network for the charging of electric vehicles. Currently, the network has over 1,000 fast and ultra-fast charge points at around 430 Shell service stations, as well as over 185,000 charge points at various locations including service stations, highways and electro hubs. By acquiring ubitricity, Shell is pushing forward with expansion in the rapidly growing on-street charging market for electric vehicles. It is also enhancing its core competence in this area in order to develop its charging products overall.
The following team of Gleiss Lutz lawyers advised the shareholders of ubitricity on the transaction: Dr. Martin Viciano Gofferje (lead, partner, Berlin), Johannes Schrägle (counsel, Stuttgart), Dr. Christoph Meissner, Daniel Ahnert, Dr. Torsten Spiegel, Dr. Viktor Gorlow (all M&A, all Berlin), Dr. Stefan Mayer (partner), Dr. Leonhard Kornwachs (both Tax, Frankfurt), Dr. Jacob von Andreae (partner), Aylin Hoffs (both Public Law, Düsseldorf), Dr. Alexander Fritzsche (partner, Competition/Antitrust, Frankfurt), Dr. Andreas Spahlinger (partner), Florian Kienast (both Restructuring, Stuttgart), Caroline Saalwächter-Hirsch (Compliance, Frankfurt), Dr. Alexander Molle (partner, IP/IT), Simon Wegmann (Data Protection, both Berlin), Lesley Milde (M&A), Louisa Wagner (Dispute Resolution, both Hamburg).
Gleiss Lutz regularly advises start-ups and investors in connection with transactions and financing rounds, including the pharmaceutical start-up DiosCURE Therapeutics on its set-up and seed financing, Tiger Global on its acquisition and sale of a holding in Flaschenpost as well as on the acquisition of a holding in the fintech unicorn Mambu, the founder of the CCC Group on its sale of TELUS International, and Bertelsmann on its sale of LiquidM to Smart AdServer.
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