Simmons & Simmons has advised IC Green Energy Ltd on the sale of its majority stake in German biodiesel company PETROTEC AG.

Borken, Germany based PETROTEC AG is a producer of biodiesel. The company is listed in the Prime Standard of the Frankfurt Stock Exchange. PETROTEC has been a pioneer of the German biodiesel industry and today is one of the largest disposal companies for old cooking fat in Germany.

The Simmons & Simmons team was led by Düsseldorf based corporate/M&A partner Stephan Ulrich, and is comprised of US securities partner Julian Perlmutter and corporate associate Matthias von Holten.

Commenting on the transaction, partner Stephan Ulrich who led the team, said: ‘‘We were pleased to assist IC Green Energy Ltd. This transaction further demonstrates the strength of our position and the renewables experience of our M&A and equity capital markets team.’’