Latham & Watkins Advises Apterra on Financing of Acquisition of 49% Stake in BALANCE Erneuerbare Energien

Latham & Watkins LLP has advised funds managed/advised by Apterra Infrastructure Capital LLC (Apterra) as lenders on the financing of the acquisition of a 49 percent stake in BALANCE Erneuerbare Energien (BALANCE), the biogas subsidiary of Leipzig-based gas group VNG AG, by CVC DIF (DIF Infrastructure VII (DIF VII) fund).

BALANCE currently has a portfolio of 42 biogas facilities in Northern and Eastern Germany with a total installed rated thermal output of around 197 MW. This makes BALANCE one of the largest biogas plant operators in Germany, supplying green energy to more than 180,000 households every year.

Apterra is an infrastructure finance platform in alliance with Apollo, a leading provider of integrated asset management and retirement solutions. Apollo Asset Management invests across credit, equity, and real assets in a wide range of asset classes and geographies.

The Latham team was led by Frankfurt finance partner Alexandra Hagelüken, London finance partner Conrad Andersen and Frankfurt counsel Ralph Dräger, with associate André Traute. Advice was also provided on corporate matters by Frankfurt partner Alexander Stefan Rieger, with associates Alexander Belk and Joscha Müller.