Oppenhoff has advised the DEPPE Group on a joint venture with Fahrzeug-Werke Lueg AG regarding the recycling of batteries.
With the joint venture, the two companies are establishing a holistic recycling process for lithium batteries. Additionally, both companies are jointly investing in state-of-the-art plant technology in Meppen to recover important raw materials for the production of new batteries for electric vehicles. Furthermore, a decentralised logistics network for unloading and dismantling is to be set up via LUEG locations in Germany and abroad. The newly created joint venture shall operate under the name RE.LION.BAT. Circular GmbH. The joint venture still awaits clearance by the cartel authorities.
The DEPPE Group, based in Lingen, is one of the leading companies in Germany in the waste disposal industry with a corporate history going back more than 120 years. The DEPPE Group operates has diverse operations in metal and battery trading and recycling.
LUEG is one of the largest providers of individual mobility in Germany. Founded in 1868 as a carriage manufacturer in Bochum, the LUEG Group now has a total of almost 2,400 employees in Europe. With 33 locations in six countries, it is now one of Germany's largest mobility service providers.
In a partnership of equals, two medium-sized family-owned companies with a long history complement each other in a growing market of the future - electromobility. This type of merger between automotive dealers and recycling companies is a first in the German SME sector.
"The joint venture provides answers to fundamental questions about sustainable electromobility and thus makes a significant contribution to the transformation of the European automotive landscape," said Dr. Philipp Heinrichs, Junior Partner in the Corporate Law and Mergers & Acquisitions practice at Oppenhoff.
The Oppenhoff team led by Dr. Philipp Heinrichs (Corporate/M&A) also included Jonas Weise (Corporate/M&A), Alexandra Groth (Labour Law), Dr. Daniel Dohrn, Renée Cherelle Eckruth (both Antitrust), Marc Krischer and Hanjo Prondzinski (both Tax).
The Automotive & Mobility sector group at Oppenhoff regularly provides comprehensive advice to leading OEMs and suppliers as well as associations on issues in the automotive and mobility sector - from M&A, joint venture and supply agreements to restructuring and distribution structures. The law firm advises, among others, ND Group B.V. on the financing round of over 30 million euros for e.GO Mobile with international investors.
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