Help from Cripps helps international deal to motor ahead

16 February, 2017
by: Cripps

Law firm Cripps has welcomed the Competition and Markets Authority’s (CMA) decision to give the green light for Elektromotive Limited, the former UK subsidiary of Singapore-based client Arion Entertainment Singapore Limited (Arion), to be bought by electric vehicle charging point supplier Chargemaster Plc.

 

The transaction involved a split exchange and completion with a number of conditions needing to be satisfied prior to completion, including complying with Singapore Exchange rules and obtaining CMA approval.

 

The deal will see Chargemaster invest additional resources into Elektromotive and its subsidiary, Charge Your Car, allowing both brands to broaden their scope and offering.

 

The Cripps team, led by partner Nigel Stanford and associate John Kirkwood, prepared and negotiated the sale agreement and related documents, guiding the client successfully through the sale process.

 

Nigel said: “The completion of this deal marks a significant consolidation in the UK electric vehicle infrastructure market and further builds on our growing international corporate reputation.”

 

Luke Ng, Executive Director of Arion commented “We greatly valued Cripps’ pragmatic advice and their efficient and responsive approach, all of which helped to push the deal through to completion.”

 

Under the terms of the agreements, Elektromotive and Charge Your Car will remain in their existing premises in Brighton. Both companies will continue to trade as separate entities, but will benefit from enhanced services and technical customer support offered by Chargemaster.

 

In recent months, Cripps has worked on deals involving companies in America, Canada, Singapore, Germany, France and Spain amongst others. It is a member of MARCALLIANCE, an international alliance of law firms.