Cuatrecasas with Mirova on its investment in Zunder
Cuatrecasas advised the French investment fund Mirova Energy Transition 5 (Mirova), a subsidiary of Natixis Investment, on the acquisition of a 100 million euro minority stake in the share capital of Zunder, a Palencia-based company that manufactures ultra-fast chargers for electric cars.
With this investment, Mirova joins Zunder as a shareholder to facilitate its growth on the Spanish territory and allow it to continue with its international expansion strategy. This transaction demonstrates Mirova’s strong interest in the electrification market and the development and implementation of electric vehicle (EV) charging infrastructures at a global level, which it already demonstrated in 2020 with its commitment to the French EV charging company Driveco.
Zunder will use the 100 million euros in a growth plan that involves investing 300 million euros in the installation of 4,000 charging points distributed between Spain and Portugal over a period of time that will last until 2025. That year, the company expects to have a total of 500 new charging stations and more than 40,000 chargers under management on its platform.
The Cuatrecasas team advising on the transaction was led by Mariano Ucar, a partner in the Madrid office’s Commercial practice, who was supported by the lawyers Graciela Garrudo, Elena García and Jaime Sepúlveda. A large multidisciplinary team of lawyers also collaborated, led by Alejandro Bonitch, Alvaro Bourkaib, Alessandro Jones, Agustín Cerdá and Valentín García.
