DLA Piper and MZS Advise on Rosatom Subsidiary's Acquisition of Stake in South Korean Battery Manufacturer

DLA Piper and MZS Advise on Rosatom Subsidiary's Acquisition of Stake in South Korean Battery Manufacturer

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DLA Piper has advised Renera, a Russian energy storage business owned by Rosatom’s Tvel Fuel Company, on the acquisition of a 49% stake in Enertech International, a South Korean manufacturer of electrodes, lithium-ion storage cells, and energy storage systems. Monastyrsky, Zyuba, Stepanov & Partners advised Enertech on the deal.

According to DLA PIper, “the alliance with its South Korean partner is part of Rosatom’s strategy to invest in non-nuclear businesses and is only a first step towards developing and manufacturing state-of-the art energy storage systems." According to the firm, "the signed agreement also envisages the construction of a facility for manufacturing lithium-ion cells and energy storage systems in Russia, with at least a 2 GWh production capacity by 2030. The start of production at the Russian plant is scheduled for 2025. Lithium-ion batteries made in Russia will be used in electric vehicles (trucks, buses and passenger cars), in special equipment, and on power grids.”

DLA Piper’s Moscow-based team was led by Partner Steffen Kaufmann and included Legal Director Mukhamed Evloev, Counsel Julianna Tabastajewa, Senior Associate Azamat Abdulmenov, and Associate Alexander Mysov.

The Monastyrsky, Zyuba, Stepanov & Partners team included Partner Mikhail Motritch and Senior Associate Alena Shubina.