(CercleFinance.com) – Plastic Omnium indicates that it has signed an agreement with the Actia group to acquire 100% of its Actia Power division for an enterprise value of 52.5 million euros, an agreement which follows the entry into exclusive negotiations announced on March 29.
Actia Power specializes in the design and manufacture of on-board batteries, power electronics and electrification systems for the electric mobility of trucks, buses, coaches, trains and construction machinery.
Based in Toulouse, this division currently employs 200 people in France, Germany, the United Kingdom and the United States, and achieved a turnover of 22 million euros last year.
The next few weeks will be devoted to finalizing the legal documentation and lifting minor conditions precedent with a view to achieving a closing in mid-summer. The proceeds will be used to reduce Actia’s debt by approximately 50 million euros.
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