PARIS (Agefi-Dow Jones)–Automotive supplier Plastic Omnium announced on Monday that it has reached an agreement to acquire Actia Power, the vehicle electrification division of the French group Actia, on the basis of a enterprise value of 52.5 million euros.
“This agreement follows the entry into exclusive negotiations with Actia announced by Plastic Omnium on March 29,” the automotive supplier said in a statement. “The completion of the acquisition is expected during the third quarter” and “will be entirely self-financed,” said the group.
Actia Power, which employs 200 people in France, Germany, the United Kingdom and the United States, achieved a turnover of 22 million euros in 2021.
Upon completion of the agreement, Actia Power employees will join Plastic Omnium’s Clean Energy Systems (CES) division, dedicated to energy storage and management systems and solutions.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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June 27, 2022 01:18 ET (05:18 GMT)