GAP steers Acciona Energía´s acquisition of Cargacoches

Gómez-Acebo & Pombo has advised Acciona Generación Renovable on the acquisition of 78.28% of the share capital of Cargacoches, S.L.

Cargacoches is the head of a group of companies dedicated to the establishment and operation of an electric vehicle charging network in Spain (the “Cargacoches Group”) and on the corresponding shareholders’ agreement.

Cargacoches is a company dedicated to the installation and management of electric vehicle charging points in Spain. It has around 50 of its own interurban fast charging points, with more than 400 charging points managed by third parties and 10,000 registered users, thus concentrating one of the most extensive charging networks in Spain.

Acciona has highlighted the “strategic sense” of the purchase operation due to the high “complementarity” between the Cargacoches business, in the intercity public charging network, and that of Acciona Energía, focused on companies and institutional customers. Acciona Energía’s goal is to reach a managed public access network of 25,000 recharging points by 2030 through the deployment of its own network and management for third parties.

The GA_P´s team was formed by Estibaliz Aranburu (pictured left) and Esther Sanz, partner and associate, respectively, of the Commercial practice, Irene Fernández Puyol (pictured right) and Marta Rey, partner and associate, respectively, of the Public and Regulatory practice, and Juan Pérez and Isabel Silva, associates of the Banking practice.

On the other hand, King & Wood Mallesons has advised Cargacoches on its acquisition by Acciona Energía. Roberto Pomares Botana was the partner in charge of the transaction and was supported by associates Enrique Murillo Giménez and Emiliano Moreno Rodríguez.