Firm Advises ING Corporate Investments on Investment in Dutch Full Electric Bus Pioneer EBUSCO
22 Dec 2016
International law firm Simmons & Simmons advised ING Corporate Investments, the co-investment branch of ING Bank, on their investment in EBUSCO B.V., a Dutch company which develops, markets and sells full electric (public transport) buses in the European market. The transaction was structured as a share issuance that resulted in a minority stake in EBUSCO for ING CI.
EBUSCO is a pioneer in the development of electric bus transport and was the first European company to receive a full European type approval for a full electric bus. ING also provides a loan which, together with a loan from the Dutch Ministry of Economic Affairs, will be used to expand the production of electric buses rapidly, since all public transport buses in the Netherlands are required to be emission-free by 2030.
Rob Hendriks, the firm's partner in Amsterdam commented, “we take great pride in advising ING on what they understandably regard as a high profile investment.”
The Simmons & Simmons team was led by partner Rob Hendriks and supervising associate Martijn Stuart. Other members of the team included Michiel Boer and Gijs ter Braak.
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