DLA Piper advises Swiss Life Asset Managers on acquisition of Vergia from Arendals Fossekompani

Swiss Life Asset Managers (Swiss Life AM) and Arendals Fossekompani (AFK) have announced the closing of a transaction where Swiss Life AM acquires, on behalf of several private market infrastructure funds, 100% of Vergia AS from AFK.

Vergia was established by Arendals Fossekompani in 2022 to initiate new energy projects, spanning from the production of energy from renewable sources to the establishment of an energy park for renewable industries.

At the time of the acquisition, Vergia consists of the central Vergia team as well as a portfolio of three ownership positions: 48.1 percent ownership of offshore wind energy developer Seagust, 47.9 percent ownership of green ammonia company North Ammonia, and 30.4 percent ownership of Power-to-X company HydePoint.

Swiss Life Asset Managers Infrastructure Equity, established in 2011, manages over EUR 10 billion in assets and has made 75 infrastructure investments across various sectors, including renewable energy.

“We are delighted to have gained the trust of Vergia, its shareholders, and its highly experienced management team and to be part of their onward journey,” says Marc Schürch, Head Renewable Energy at Swiss Life Asset Managers.

The DLA Piper team that assisted Swiss Life AM in the transaction was led by corporate partner and head of DLA Piper Norway’s Renewables sector group, Kaare Oftedal, together with lead lawyer Anders Hilt and associates Anja Hegerberg, Simon Andreas Larsen, and Ida Gundersen.