Volkswagen’s Partnership With Enel X To Support Electromobility In Italy

CMS and Dentons advised Volkswagen on the deal. Orrick advised Enel X.

Volkswagen and Enel X are teaming up to support electromobility in Italy. The German car manufacturer and the Enel Group’s advanced energy solutions division have signed corresponding agreements to establish a full-function joint venture of equal partners. The joint venture will build and operate a high-power charging network in Italy between 2021 and 2025. Around 3,000 charging points are planned throughout Italy, each providing up to 350 kilowatts. The joint venture will focus on city centres, major commuter routes and main connecting roads outside urban areas. The network will be open to electric vehicles from any manufacturer. The agreement is currently awaiting clearance from the competition authorities as well as official approval under Italy’s “golden power” procedure and approval by the Presidency of the Italian Council of Ministers.

An international CMS team headed by lead partner Dr Maximilian Grub (Picture) together with Dr Kai Wallisch and Dr Sabina Krispenz advised Volkswagen on all legal aspects of establishing the joint venture. In addition to representing the client, the advice provided included drafting the extensive set of agreements. During the project the Stuttgart team worked closely with CMS Italy and specifically local partners Pietro Cavasola and Matteo Ciminelli. The team also inlcuded Dr Antje Becker-Boley, Partner, Stuttgart, Dr Tobias Will, Senior Associate, Stuttgart, Simone Philipp, Senior Associate, Stuttgart, all Corporate/M&A and Dr Axel Funk, Partner, Stuttgart, TMC.

The CMS teams worked with Frank Puchta, Senior Counsel at Volkswagen.

The in-house legal team that handled the transaction for Enel X is made up of Armando Alessandro Monaco, Head of Business Development and M&A Legal Affairs, Salvatore Brindisi, Mina Kolarova, Head of Corporate Affairs and Compliance, Anna Chiara Margottini, Giulia Borrelli, Eleonora Agostinacchio, Paolo Chiricozzi, Head of European Antitrust and State Aid and Gaia Saffioti, as well as for the aspects relating to the Golden Power notification, Davide Giannetti, Head of Corporate Governance, Company Law and Stock Exchange Regulation Compliance and Matteo Sebastianelli.

The Orrick team that assisted Enel X on corporate and contractual aspects is composed of Alessandro De Nicola, senior partner, Anna Spanò and Michele Bertani, special counsel, Pietro Fazzini, managing associate, assisted by partner Francesca Isgrò for the aspects relating to the Golden notification. Power. Orrick’s antitrust team that is assisting Enel X in relation to the antitrust and merger control aspects of the transaction, which include a notification to the European Commission, as well as filing in numerous jurisdictions outside the EU, is instead composed of partner Pietro Merlino and by managing associate Marianna Meriani.

Dentons advised Volkswagen in relation to the antitrust and merger control aspects of the transaction. The team in Germany is led by partner Florian Wiesner, with senior associate Arne Karsten and associate Alexandra Prohm. The firm’s antitrust teams in Saudi Arabia, Morocco, Turkey and Ukraine were also involved.

Antitrust aspects were handled by a Volkswagen in-house team with legal counsel Markus Twele.

Involved fees earner: Pietro Cavasola – CMS Adonnino Ascoli & Cavasola Scamoni; Matteo Ciminelli – CMS Adonnino Ascoli & Cavasola Scamoni; Antje Becker-Boley – CMS Hasche Sigle; Axel Funk – CMS Hasche Sigle; Maximilian Grub – CMS Hasche Sigle; Sabina Krispenz – CMS Hasche Sigle; Simone Philipp – CMS Hasche Sigle; Kai Wallisch – CMS Hasche Sigle; Tobias Will – CMS Hasche Sigle; Arne Karsten – Dentons; Alexandra Prohm – Dentons; Florian Wiesner – Dentons; Michele Bertani – Orrick Herrington & Sutcliffe LLP; Alessandro De Nicola – Orrick Herrington & Sutcliffe LLP; Pietro Fazzini – Orrick Herrington & Sutcliffe LLP; Francesca Isgrò – Orrick Herrington & Sutcliffe LLP; Marianna Meriani – Orrick Herrington & Sutcliffe LLP; Pietro Merlino – Orrick Herrington & Sutcliffe LLP; Anna Spanò – Orrick Herrington & Sutcliffe LLP;

Law Firms: CMS Adonnino Ascoli & Cavasola Scamoni; CMS Hasche Sigle; Dentons; Orrick Herrington & Sutcliffe LLP;

Clients: Enel X; Volkswagen AG;

Author: Federica Tiefenthaler