Ashurst advises DIF Capital Partners on acquisition of majority stake in ib vogt
25 October 2021
25 October 2021
With a total capacity, built or in construction, of over 2.2 GWp to date combined with a project development pipeline in excess of 40 GWp, ib vogt is a leading global utility scale solar PV development platform. Founded in 2002, ib vogt has established 27 offices across Europe, North America, Asia-Pacific and Africa and currently employs over 540 experts worldwide. DIF and DVV have entered into this strategic partnership with the aim of accelerating ib vogt’s growth program and asset build out as well as to fast track the transition of the company towards an independent power producer (IPP) model that develops, owns, and operates solar and battery storage projects.
The legal advice included in particular the negotiation of the complex SPA and Shareholders Agreement, the due diligence of solar PV projects and group companies in a large number of jurisdictions worldwide as well as the review and preparation of regulatory notifications.
The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy & Infrastructure) and Dr Benedikt von Schorlemer (Corporate and M&A). They were assisted by partners Dr Anders Kraft (Tax) and Dr Michael Holzhäuser (Competition), counsel Holger Mlynek (Infrastructure), Dr Philipp Vorbeck (Global Loans), Dr Maria Held (Competition) and Juditha von der Heydt (Employment) as well as senior associate Dr Valentin Pfisterer (Corporate Transactions), associates Dr Simon Groneberg (Energy & Infrastructure), Rachel Wünsch, Jan Ischreyt (both Corporate and M&A) and Sara Kreiner as well as transaction counsel Melissa Bach (both Corporate Transactions). At the international offices, partners Jacques Dabreteau (Projects, Paris), Andrés Alfonso (Corporate, Madrid), Carloandrea Meacci (Energy & Infrastructure, Milan), Anita Choi (Corporate Transactions, Sydney) and Yann Alix (Projects, London) were involved, inter alia, assisted by senior associate Mariana Simon (Corporate) and associates Tristan Choppin de Janvry and Claudia Cicone (both Projects, all Paris), senior associate Soledad Adell (Public Law, Madrid) as well as associates Gianluca Di Stefano (Projects, Milan) and Amy Coleman (Corporate, London).
Ashurst regularly advises DIF on infrastructure investments, most recently for example on the acquisition of a stake in European railcar leasing company Touax Rail Limited.