In order to welcome the era of electric vehicles, Shell announced the acquisition of electric vehicle company Volta.

(European News Agency)

[Financial Channel/Comprehensive Report] The oil giant Shell (Shell) will acquire the electric vehicle charging company Volta at a price of US$169 million (NT$5.12 billion). The acquisition is expected to be completed in the first half of this year. A trend, the case shows Shell's determination to transition to clean energy.

According to comprehensive media reports, according to the merger agreement, Shell of the United States will acquire all of Volta’s issued Class A ordinary shares at a price of US$0.86 per share after the merger is completed, which is a premium of about 18% over the closing price of Volta’s stock on January 17. Volta, which has traded below $1 since November, rose 0.73% after the merger announcement.

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Vince Cubbage, CEO of Volta, said that under limited capital and a challenging market environment, it is difficult for Volta to independently develop electric vehicle charging-related fields. In addition, Volta also obtained a loan from Shell to assist Volta in dealing with related transaction expenses. It is expected that after obtaining After the approval of the third party from the regulatory agency, the related transaction will be completed in the first half of this year.

In addition to Volta, Shell has already acquired a similar British company Ubitricity in 2021, which shows that this oil company is actively transforming to welcome the advent of the era of electric vehicles.

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