PATRIZIA enters the ultrafast EV charging sector with €140m acquisition
PATRIZIA has entered into a binding agreement for a transaction of more then €140 million ($147 million) in an EV charging rollout program in Germany through its flagship European Infrastructure Fund series. The deal significantly diversifies PATRIZIA’s infrastructure platform by sector and country, marking the company’s entry into EV charging as well as the first investment in Germany for its European Infrastructure Fund series.
The investment of more than €70 million ($74 million) from PATRIZIA, alongside a €70 million ($74 million) debt facility provided by a syndicate of German banks led by DAL (Deutsche Asset Leasing), will finance the rollout of 400 ultrafast Numbat EV charging stations at 200 locations of organic supermarket chain Tegut across Germany. As part of the deal, PATRIZIA has provided a convertible loan note to Numbat, the specialist developer and operator of the high-power EV charging solutions. PATRIZIA has also secured the right to finance furthe