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.

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


(END) Dow Jones Newswires

December 10, 2020 19:03 ET (00:03 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.