NautaDutilh and Weil, Gotshal & Manges LLP. advised Allego on the deal. Latham & Watkins LLP represented the placement agents in PIPE the offering.
Allego announced its $3.14 billion business combination with Apollo-Affiliated Spartan Acquisition Corp. III (NYSE: SPAQ). The transaction will raise a total of $702 million (assuming no redemptions), including $150 million from a fully committed PIPE. The PIPE is anchored by institutional investors, including Hedosophia and funds and accounts managed by ECP as well as strategic partners, including Fisker and Landis+Gyr. Funds managed by affiliates of Apollo Global Management, Inc., as sponsor behind Spartan Acquisition Corp. III, and Meridiam, as long-term owner of Allego, also participated in the PIPE. The transaction will be used, among other things, to fund the combined company’s expansion plans.
The combined company will become a Dutch N.V. listed on NYSE under the symbol “ALLG”. Allego, a leading Pan-European EV charging company, has over 26,000 public EV charging ports across 12,000 public and private locations in 12 European countries, with leading utilization rates and a substantial recurring user base, as well as a secured backlog of 500 premium sites providing near-term visibility on network development. The pro forma implied equity value of the combined company is $3.14 billion. The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions.
Credit Suisse and Barclays served as co-lead placement agent on the PIPE offering. Citi and Apollo Global Securities served as co-placement agents.
The NautaDutilh deal team was led by Gaike Dalenoord (Picture) and Paul van der Bijl and included Jules van de Winckel, Sanne Mesu, Dirk Panis, Marc Orval, Nina Kielman, Ashley Beesemer and Peter Vogels.
The Weil team advising Allego Holding B.V. was led by Mergers & Acquisitions partners Matthew Gilroy and Amanda Fenster and included Mergers & Acquisitions associates Alex Chelesnik and James Collins (Not Yet Admitted in New York). The Paris team was led by Corporate partner Benjamin de Blegiers and included Corporate counsel Marine Jamain; Corporate associates Alexandre Namoun and Mathilde Vasseur; and Banking & Finance associate Timothee Buchet. The team also included Capital Markets Head Alexander Lynch; Capital Markets partner Faiza Rahman; Capital Markets associates Shelby Stanton and Joseph Viscomi; International Tax Head Devon Bodoh; Tax partner Greg Featherman; Tax associates Blake Bitter and Alfonso Dulcey; Executive Compensation & Benefits Head Paul Wessel; Executive Compensation & Benefits associate Allison McQueeney; Public Company Advisory Group partners Adé Heyliger and Lyuba Goltser; Public Company Advisory Group associate Bianca Lazar; Technology & IP Transactions Head Michael Epstein; Technology & IP Transactions/Privacy counsel Olivia Greer; Technology & IP Transactions/Privacy associates Lauren Springer and Maryann Thompson; and Regulatory Transactions partner Shawn Cooley.
Latham & Watkins LLP represented the placement agents in the transaction with a corporate deal team led by Houston partner Ryan Maierson, with associates Monica White, Bryan Ryan and Dylan Carroll.
Involved fees earner: Dylan Carroll – Latham & Watkins; Ryan Maierson – Latham & Watkins; Bryan Ryan – Latham & Watkins; Monica White – Latham & Watkins; Ashley Beesemer – NautaDutilh; Gaike Dalenoord – NautaDutilh; Nina Kielman – NautaDutilh; Sanne Mesu – NautaDutilh; Marc Orval – NautaDutilh; Dirk Panis – NautaDutilh; Jules van de Winckel – NautaDutilh; Paul van der Bijl – NautaDutilh; Peter Vogels – NautaDutilh; Blake Bitter – Weil, Gotshal & Manges; Devon Bodoh – Weil, Gotshal & Manges; Timothee Buchet – Weil, Gotshal & Manges; Alex Chelesnik – Weil, Gotshal & Manges; James Collins – Weil, Gotshal & Manges; Shawn Cooley – Weil, Gotshal & Manges; Benjamin de Blegiers – Weil, Gotshal & Manges; Alfonso Dulcey – Weil, Gotshal & Manges; Michael Epstein – Weil, Gotshal & Manges; Greg Featherman – Weil, Gotshal & Manges; Amanda Fenster – Weil, Gotshal & Manges; Matthew Gilroy – Weil, Gotshal & Manges; Lyuba Goltser – Weil, Gotshal & Manges; Olivia Greer – Weil, Gotshal & Manges; Adé Heyliger – Weil, Gotshal & Manges; Marine Jamain – Weil, Gotshal & Manges; Bianca Lazar – Weil, Gotshal & Manges; Alexander Lynch – Weil, Gotshal & Manges; Allison McQueeney – Weil, Gotshal & Manges; Alexandre Namoun – Weil, Gotshal & Manges; Faiza Rahman – Weil, Gotshal & Manges; Lauren Springer – Weil, Gotshal & Manges; Shelby Stanton – Weil, Gotshal & Manges; Maryann Thompson – Weil, Gotshal & Manges; Mathilde Vasseur – Weil, Gotshal & Manges; Joseph Viscomi – Weil, Gotshal & Manges; Paul Wessel – Weil, Gotshal & Manges;