We advised Odin Automotive on the closing of a transaction with Deutsche Post DHL Group (DPDHL) to acquire StreetScooter Engineering (StSE), the company's manufacturer of electric light commercial vehicles (eLCVs). The acquisition gives Odin the rights to StSE's existing IP, production lines, and subsidiaries in both Switzerland and Japan.
Odin therefore takes ownership of the largest producer of eLCVs in Germany and secures the future of StSE's ongoing battery management system development and manufacturing capabilities. Concurrently to the acquisition, the group has also secured an additional minimum order of 3,500 StSE vehicles from DPDHL to continue electrifying their postal delivery fleet.
Odin Automotive is an automotive holding company with employees working together across Europe, Asia, and North America to transform last mile transportation of people and goods to zero emissions and have been at the forefront of the automotive industry for the last 30 years.
The Loyens & Loeff Luxembourg team putting together corporate experts was led by corporate partner Frédéric Franckx with Senior Associate Kristof Jansen and Associate Ana Castro Alonso. The team assisted with the negotiation and closing of the acquisition as well as the implementation and negotiation of the joint venture that led to the funding of the acquisition.