CMS advises volenergy AG on planned acquisition of bp’s Austrian Mobility & Convenience business
CMS has advised volenergy AG on the planned acquisition of bp’s Austrian Mobility & Convenience business.
The transaction includes an Austria-wide network of around 250 bp-branded service stations, EV charging infrastructure including development projects, bp’s Austrian fleet business and interests in selected infrastructure joint ventures, including the Linz tank terminal site.
With the planned acquisition, volenergy AG, a company of the Volare Group, continues its growth strategy and strengthens its position as a leading provider of energy and mobility solutions in the German-speaking region. For bp, the transaction forms part of the strategic development of its downstream business and its focus on selected markets and business areas.
CMS is supporting volenergy throughout all phases of the transaction, advising in particular on the structuring of the acquisition, regulatory matters and approval procedures, as well as contract drafting and implementation. The transaction underlines the growing importance of integrated mobility and energy solutions and reflects the increasing convergence of traditional fuel infrastructure with e-mobility, charging infrastructure and new mobility offerings.
The legal advice to volenergy AG was provided by an international CMS team led by Clemens Grossmayer (Partner, Corporate/M&A, CMS Vienna), Christoph Birner (Attorney at law, Corporate/M&A, CMS Vienna) and Dr Daniel Jenny (Relationship Partner, Corporate/M&A, CMS Zurich). The seller bp was advised by Dentons UK; bpv Hügel acted as Austrian legal counsel.
Completion of the transaction remains subject to the required regulatory approvals, in particular merger control clearance.
