Allen & Overy LLP advised Evonik Industries AG on the sale of its subsidiary Evonik Litarion GmbH to Canadian company Electrovaya.
In addition, Electrovaya acquired the licensing of "Separion" intellectual property, an innovative ceramic composite separator. The parties agreed not to disclose the purchase price.

With completion of the transaction, Electrovaya acquires one of the most advanced and automated production plants for lithium ion electrodes and ceramic separators as well as all associated intellectual property. In addition, Litarion owns numerous patents concerning chemical cell components for lithium ion batteries. This portfolio contains more than 70 protective rights and is also part of this transaction.

The Allen & Overy team was led by partner Dr. Sven Prüfer (corporate/restructuring) and comprised partners Dr. Asmus Mihm (tax) and Dr. Hans-Peter Löw (employment and benefits), senior associates Simone Böhm (corporate, restructuring) and Miray Kavruk (IP, Düsseldorf) as well as associate Gunnar Harlacher (tax).