ENGIE, Paris, France, has announced the signing of a Sale Purchase Agreement with Taiwanese company TCC Taiwan Cement Corporation for its 60.5% stake in the share capital of ENGIE EPS (Paris:EPS). TCC, with an over $10 billion market capitalization, is one of the pre-eminent industrial groups in Asia, with activities in battery manufacturing, cement production, power generation, environmental services, chemicals, logistics and infrastructures. TCC has been very active in recent years in developing renewable energy and energy storage systems.
The completion of the transaction, executed at Euro 17.10 per share, corresponding to an aggregate consideration of Euro 132 million and an implied Enterprise Value of over Euro 240 million, will be followed, in accordance with applicable regulations, by the filing of an all-cash simplified mandatory tender offer for all outstanding shares of ENGIE EPS. In accordance with the AMF General Regulation, the Board of Directors has formed an ad-hoc committee and will appoint an independent expert and will issue, notably on the basis of the report of the independent expert, a reasoned opinion (avis motivé) on the merits and consequences of the tender offer for ENGIE EPS, its shareholders and its employees. ENGIE EPS is assisted by Lazard Ltd.
Following the transaction, which is subject to customary approvals and regulatory consent, ENGIE confirmed it will pursue commercial partnerships with ENGIE EPS.
Upon completion of the transaction, expected during the summer of 2021, ENGIE EPS will become NHOA.
Carlalberto Guglielminotti, Chief Executive Officer of ENGIE EPS declares, “This acquisition by a leading, visionary industrial group like TCC, represents the ultimate recognition of our world-class technology leadership and a transformational opportunity to consolidate our growth globally. It will give us instant access to a world leading supply chain and to the Asian markets, as well as the financial breadth to credibly position as a global leader in the turnkey delivery of energy storage systems and a global enabler of the eMobility revolution. More importantly, with TCC we share the mission, which inspired our new brand NHOA, to shape a better future for a next generation living in harmony with our planet.”
Roberto Di Stefano, Chief Executive Officer of Free2Move eSolutions, the Joint Venture between ENGIE EPS and Stellantis, declared, “We welcome TCC which represents an unparalleled opportunity to support the electric mobility transition in Asia, the most advanced e-mobility market worldwide.”
“Together we will make a difference to the world and the Earth,” said Nelson Chang, Chairman of the Board of TCC, commenting the announced acquisition and creation of the new brand NHOA.
New HOrizons Ahead: this is NHOA. A new brand that represents the enlightened and sustainable future backed by TCC, and the mission to unlock the global transition towards clean energy and sustainable mobility.
About ENGIE EPS
Engie EPS is the technology and industrial player within the ENGIE group, developing technologies to revolutionize the paradigm in the global energy system towards renewable energy sources and electric mobility. Listed on Euronext Paris regulated market (EPS.PA), Engie EPS forms part of the CAC® Mid & Small and CAC® All-Tradable financial indices. Its registered office is in Paris, with research, development and production located in Italy.
About ENGIE
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris – Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Euro Stoxx 50 ESG, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).