KPMG Law advises Cenntro Electric Group on investment in Antric

Nuremberg, January 23, 2023

KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) provided legal advice to Cenntro Electric Group Limited (Cenntro Electric Group) on the acquisition of a stake in Antric GmbH (Antric).

Antric, founded in 2020 and based in Bochum, Germany, is a manufacturer of electric cargo bikes. The German-made Antric One is an innovative and robust cargo bike as a supplement and alternative to conventional transport vehicles in the city. This is intended to make transportation in cities more sustainable, flexible and cost-effective.

Cenntro Electric Group is a developer and manufacturer of light and medium-duty electric commercial vehicles. The vehicle portfolio covers a wide range of applications and is used in urban services, last-mile deliveries and other commercial applications, among others. Cenntro Electric Group plans to lead the transformation of the automotive industry through scalable, decentralized production and fully digitalized autonomous driving solutions supported by the Cenntro iChassis.

For this reason, the Cenntro Electric Group has acquired 25 percent of the shares in the cargo bike manufacturer Antric. As part of the transaction, KPMG Law provided comprehensive legal advice on the drafting and negotiation of the contractual framework underlying the transaction.

Consultants Cenntro Electric Group:

KPMG Law Rechtsanwaltsgesellschaft mbH: Dr. Christian Hensel (Partner, Lead),
Dr. Frank Kafka
(Senior Manager, Lead Partner),
Maximilian Weiß
(Senior Associate), all Corporate/M&A;
Annette Susanne Lionnet
(Senior Manager),
Nicole Bohn
(Manager), both Business and Commercial Law;
Dr. Gerrit Rixen
(Partner),
Jacqueline Unkelbach
(Manager), Tim Haller (Senior Associate), all Antitrust.