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Compleo negotiates acquisition of innogy eMobility Solutions GmbH with E.ON

·5-min read

DGAP-News: Compleo Charging Solutions AG / Key word(s): Takeover/Letter of Intent
16.07.2021 / 08:45
The issuer is solely responsible for the content of this announcement.

Compleo negotiates acquisition of innogy eMobility Solutions GmbH with E.ON

Exclusive negotiations commenced on the purchase of former innogy SE's European e-mobility business

Dortmund, July 16, 2021 - Compleo Charging Solutions AG ("Compleo"), a leading provider of charging solutions for electric vehicles, has concluded a Term Sheet with E.ON SE for the acquisition of 100 percent of the shares in innogy eMobility Solutions GmbH. The subject of the agreement includes the European activities of the technology provider innogy eMobility Solutions GmbH, which generated revenue of approximately EUR 20 million in the first half of 2021. Both the charge point operator and charging solutions business remaining with E.ON SE and the US activities of innogy eMobility Solutions GmbH are excluded from the agreement. As part of the agreed exclusivity, Compleo is currently assessing whether the investment is beneficial to Compleo's shareholders.

innogy eMobility Solutions GmbH had been transferred to E.ON in the course of the innogy takeover and develops and produces its own hardware and software for charging electric vehicles. The approach of in-house development and production differs significantly from the E.ON Group's strategy in the e-mobility sector, which focuses strongly on integrated customer solutions. Both parties are aiming for a possible signing of the contract based on extensive due diligence during the third quarter of 2021 and a closing of the transaction during the fourth quarter of 2021. The underlying enterprise value is in the mid double-digit million-euro range. The purchase price would be paid both in Compleo's own shares and through cash components. Whether and, if so, on what terms the conclusion of a purchase agreement regarding innogy's European e-mobility business between E.ON SE and Compleo will come about will depend on the further course of negotiations.

"We are confident about the prospect of growing together with a very experienced and long-standing market player such as innogy eMobility Solutions GmbH," said Georg Griesemann, Co-CEO of Compleo Charging Solutions AG. "We value the company's employees as proven experts in the technological field as well as in the European e-mobility market." Besides the workforce, Compleo also intends to acquire all customer relationships of innogy eMobility Solutions GmbH. Following the acquisition of wallbe GmbH in the spring, the combination involving another strong player such as innogy eMobility Solutions GmbH serves the goal of expanding Compleo to become the German e-mobility champion in Europe. "With our organic and inorganic growth, we are investing in our future as German driver of e-mobility in Europe and optimizing our international market position," Griesemann added.
 

About Compleo:
Compleo Charging Solutions AG, together with its subsidiary wallbe GmbH, is a leading provider of charging solutions for electric vehicles. The company is a complete solution provider with its charging stations and also offers services around the planning, installation, maintenance, service or backend of the charging infrastructure. Compleo's range includes both AC and DC charging stations. The company develops and manufactures all products at its headquarters in Dortmund. In doing so, the manufacturer focuses on innovation, safety, consumer-friendliness and cost-effectiveness. Its customers include Allego, Clever, E.ON, EWE Go, Deutsche Telekom, Siemens and over 150 municipal utilities in Germany. Compleo started production of the first charging stations in 2009 and wallbe GmbH joined the group in 2021. To date, the company has delivered over 50,000 charging points, contributing to the development of the charging infrastructure. Compleo is listed in the Prime Standard segment of the Frankfurt Stock Exchange since October 2020 (ISIN: DE000A2QDNX9). More information is available at: compleo-cs.de

About innogy eMobility Solutions GmbH:
As a tech company with over 12 years of experience innogy eMobility Solutions develops and produces hardware and software services for electric mobility. The charging hardware can be controlled by the innogy eMobility Backend as well as by IT systems of other companies. The innogy eMobility Backend already networks about 185,000 charging points from different manufacturers for business customers in about 30 countries. innogy eMobility Solutions has own locations in Germany, Great Britain, USA and the Philippines and is a wholly owned subsidiary of the E.ON Group. Web: innogy-emobility.com


Contact Investor Relations:

Compleo Charging Solutions AG
Sebastian Grabert, CFA
Head of Investor Relations
E-mail: ir@compleo-cs.de
Phone: +49 231 534 923 874

Media Contact:

Compleo Charging Solutions AG
Ralf Maushake
Head of Marketing & Communications
E-mail: r.maushake@compleo-cs.de
Phone: +49 231 534 923 865

innogy eMobility Solutions GmbH
Michael Peukert
Head of Marketing & Communications
E-mail: michael.peukert@innogy.com
Phone: +49 162 2930481


16.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Compleo Charging Solutions AG

Oberste-Wilms-Straße 15a

44309 Dortmund

Germany

Phone:

+49 231 534 923 70

E-mail:

ir@compleo-cs.de

Internet:

https://www.compleo-cs.com/

ISIN:

DE000A2QDNX9

WKN:

A2QDNX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1219429


 

End of News

DGAP News Service

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