Gleiss Lutz Advises Northern Data on Sale of Peak Mining Business Unit

Gleiss Lutz advised Northern Data AG on the sale of its Peak Mining business unit, with U.S. law advice provided to Northern Data AG by Latham & Watkins. The transaction involved an immediate payment of USD 50 million to Northern Data upon signing the sale agreement. In addition, Northern Data is entitled to performance-based payments of up to USD 150 million (Earn-Out) payable over the next five years. The Earn-Out derives from profit participation in the current cash-yield potential of the existing 100 megawatt mining capacity and from potential future expansion of mining activities at the Corpus Christi site. A potential resale of operations at the Corpus Christi site could result in proceeds exceeding the Earn-Out. Northern Data AG is a provider of full-stack AI and High Performance Computing (HPC) solutions. Gleiss Lutz has regularly advised Northern Data, most recently on a 20% capital increase. Gleiss Lutz represented Northern Data AG with a team composed by: Dr. Stephan Aubel (lead, partner, corporate and capital markets law, Frankfurt), Alexander Gebhardt (counsel, corporate and capital markets law, Frankfurt), Melanie Barwich (counsel, corporate and capital markets law, Frankfurt), Christian Schröder (corporate and capital markets law, Frankfurt), Anne Görg (corporate law, Frankfurt) and Dr. Walter Andert (corporate and capital markets law, Berlin). Latham & Watkins represented Northern Data AG on U.S. law with a team composed by: Robert M. Katz (lead, New York). Northern Data AG in-house legal team represented Northern Data AG with a team composed by: Rudolf Haas (Chief Legal Officer), Martin Rinscheid (Deputy Legal Counsel), Mareile Müller-Felsch (Head of Legal) and Konrad v. Buchwaldt (Senior Transaction Counsel).

Gleiss Lutz Advises Northern Data on Sale of Peak Mining Business Unit

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