Bird & Bird counsel to Statkraft on the investment in Bee Charging Solutions AB

02-2021

Statkraft, Jämtkraft AB, Öresundskraft AB and Tekniska verken i Linköping AB (publ) have joined forces in a joint venture to invest in Bee Charging Solutions AB (Bee).

Bird & Bird has assisted Statkraft in the formation of a joint venture with the regional energy companies that currently own Bee Charging Solutions AB. Statkraft has acquired 51% of the shares in Bee through a new share issue, while Öresundskraft, Jämtkraft and Tekniska verken i Linköping retain the other 49% of the shares. Bee is one of the leading charging companies in Sweden with more than 2000 public charging points.

Together with Statkraft's Swedish charging business Grön Kontakt AB, Bee Charging Solutions will form the new company Mer Sweden AB. Trademark “Mer” is owned by Statkraft and comprises several charging companies in Norway, Sweden, Germany and the UK.

Statkraft is a leading international company in the hydropower sector, Europe's largest supplier of renewable energy and Sweden's fourth largest electricity producer. The Statkraft group with 4,000 employees in 17 countries, produces hydropower, wind power, solar power, gas power and is a supplier of district heating. With a clear ambition to grow on the electric car charging market in Europe, the joint venture with the other energy companies through Bee will make Mer one of the largest players in the Swedish market.

Bird & Bird has a wealth of experience advising clients in the renewable energy sector. With the firm’s strong position in the Nordics as well as in Europe, this transaction was a perfect fit.

Bird & Bird's core team included partner Mårten Willamo and was led by senior associate Taymaz Afsari working together with associate Ahmed Al-Rahma, associate Michael Butler, senior associate Lucas Magnusson, associate Karin Tukiainen, associate Olivia Onwuta, partner Carl-Magnus Uggla (all Stockholm) and partner Morten Nissen and associate Alexander Brochner (Copenhagen).

The transaction is subject to competition filing.