ABB Electric Mobility completed the last round of financing before its independent listing, and four institutions increased capital by 325 million Swiss francs

New investors in this round include BeyondNetZero under the American Pan-Atlantic Investment Group, Singapore Government Investment Corporation (GIC), UK Just Climate and Porsche Motor Holdings

ABB E-mobility, the global leader in charging solutions for electric vehicles, announced today that it has signed agreements with four minority shareholders to raise another CHF 325 million, approximately 12% of the company. This transaction is the second and final round of private equity financing before ABB Electric Mobility’s independent listing, and is expected to be completed in early February 2023.

ABB Electric Mobility completed the last round of financing before its independent listing, and four institutions increased capital by 325 million Swiss francs

Institutions participating in the second round of capital increase include:

  • BeyondNetZero, the climate solutions fund of General Atlantic Group, the world’s leading growth equity investment company;
  • Global institutional investors, Singapore sovereign wealth fund – Government of Singapore Investment Corporation;
  • Just Climate, a British climate investment firm founded by Generation Investment Management;
  • and Germany-based Porsche Automobile Holding AG, which invests in transportation and Industrial technology and is a core shareholder of Volkswagen and Porsche.

ABB eMobility plans to use the proceeds to continue its growth strategy driven by a combination of organic growth and M&A investments in hardware and software. After the second round of capital increase, ABB is still a close partner of ABB e-mobility, with a shareholding ratio of about 80%.

After this round of financing, ABB Electric Mobility has raised a total of about 525 million Swiss francs, and the two rounds of financing are based on the same company valuation and contract terms.

In November 2022, ABB Electric Mobility announced the completion of the first round of independent pre-listing private equity financing of about 200 million Swiss francs. Investors include:

  • Long-term equity investment fund Interogo Holding (an international investment group headquartered in Switzerland and held by foundations, which will hold a seat on the board of directors of ABB e-mobility);
  • moyreal Holding ag, a Swiss family-owned company with a long history in the automotive industry (with Helvetic Trust AG as corporate advisor);
  • and Michael Halbherr, chairman of ABB e-mobility.

Robinson, CEO of ABB Group, said: “We are delighted that investors share our confidence and trust in the future growth of the e-mobility business. ABB remains committed to advancing its strategic plan for a separate listing of the business under favorable market conditions. .”

ABB e-mobility is the global market leader in creating a zero-emission future, committed to providing smart, reliable and emission-free electric vehicle charging solutions. Through a series of acquisitions, such as Shanghai Lianzhuang, In-Charge, Chargelab, and Numocity, the company invested in an advanced production base in Italy, and recently put into operation a new plant in the United States, which has greatly expanded the business scale of ABB’s electric mobility.

Lilja, Morgan Stanley and UBS acted as financial advisors for ABB’s two rounds of private placement financing, and Lenz & Stähelin acted as external legal advisor.

ABB is a technology leader in electrical and automation, committed to empowering a more sustainable and efficient future. ABB integrates engineering experience and software technology into solutions to optimize manufacturing, transportation, energy and operations. Adhering to a history of excellence spanning more than 130 years, ABB’s approximately 105,000 employees worldwide are committed to promoting innovation and accelerating industrial transformation.

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