On Thursday, TCC Group Holdings launched a simplified takeover bid for electric mobility specialist NHOA, in which it was already the main shareholder, with a view to delisting the company.

The former Taiwan Cement Corporation plans to offer a price of 1.10 euros for each share in the former Engie EPS, which specializes in energy storage and ultra-fast charging for electric vehicles, reflecting a premium of 88% on Wednesday evening's share price.

In a press release, TCC explains that the proposed offer is motivated by several factors, starting with the need to make significant investments, which would be facilitated as an unlisted company.

A private shareholder would enable NHOA to implement long-term strategies more effectively, without the pressure of market expectations, regulatory costs and sensitivity to share price fluctuations", explains the group.

Following the last capital increase of around 250 million euros in 2023, which was almost entirely subscribed by TCC, the group had increased its stake in NHOA to over 88.8% of the capital and voting rights.

In reaction to the announcement of this offer, NHOA shares soared by over 81%, to come within a few cents of the price offered by TCC.

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