Clifford Chance advised on largest ever equity raise for French start-up Verkor
Clifford Chance advised Macquarie Asset Management, the world's largest infrastructure manager and a leading energy transition investor, on its investment as lead investor in French battery manufacturer Verkor's Series C funding round, which is now the largest equity raise for a French start-up. The round size is a minimum of €850 million and could increase in the following weeks.
This financing will accelerate the construction of Verkor's first gigafactory in Dunkirk and the manufacture of high-performance low-carbon battery cells, as well as ongoing technological developments at the Verkor Innovation Centre for new manufacturing technologies and new state-of-the-art products, and strategic investments across the battery value chain, thereby generating thousands of direct and indirect long-term jobs.
The Clifford Chance team was led by Emmanuel Mimin, partner, in Paris, and included Raphaël Durand, counsel, Benjamin Saada and Julie Brissy, associates, on the Corporate / M&A aspects; David Tayar, partner, and Amélie Lavenir, counsel, on the antitrust aspects; Gauthier Martin, partner, and Clément Fricaudet, associate, on the public law / regulatory aspects; Daniel Zerbib, partner, on the financing aspects; and Cécile Zoro, counsel, on the employment law aspects.
The Luxembourg, Dusseldorf and London offices also advised on this deal with teams respectively composed of Saskia Myners, partner, and Judit Stern, counsel, on the Corporate / M&A aspects; Nicolas Cookson, counsel, on the Offtake aspects, and Thomas Voland, partner, on the public law / regulatory aspects; as well as Edward Bretherton, partner, and Simon Smith, senior associate, on the construction aspects.