TPG-Backed Blank-Check Company to Merge With EVBox; Engie to Retain Stake Over 40%
By Josh Beckerman
EVBox Group, an electric vehicle charging products company owned
by Engie SA, agreed to merge with a blank-check company formed by
TPG Pace Beneficial Finance said the transaction values EVBox at
an implied $969 million enterprise value. The blank-check company's
shares were up 110% after hours to $23.34.
Engie will retain a stake of more than 40%.
A $225 million private placement at closing will include
participation from BlackRock Inc., Inclusive Capital Partners,
Neuberger Berman Funds and Wellington Management.
Write to Josh Beckerman at firstname.lastname@example.org
(END) Dow Jones Newswires
December 10, 2020 19:03 ET (00:03 GMT)
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