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 josh.beckerman@wsj.com
(END) Dow Jones Newswires
12-10-20 1903ET