Deals & Cases
Second round of ABB E-mobility's pre-IPO placement
On February 1, 2023, ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, announced that it has signed an agreement with four minority investors to raise an additional CHF325 million in funds, in exchange for a total shareholding of approximately 12 percent in the company. This transaction represents the second and final part of ABB E-mobility’s pre-IPO private placement of newly issued shares and is expected to close in the beginning of February 2023.
ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software. Following the second round, ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 80 percent. Through its pre-IPO placement, ABB E-mobility has raised a total of approximately CHF525 million in funds for the E-mobility business, with both investment rounds based on the same company valuation and contractual terms.
Lenz & Staehelin advises ABB and ABB E-mobility in this transaction. The Lenz & Staehelin team consisted of partners Hans-Jakob Diem (Corporate/M&A), Patrick Schärli (Capital Markets) and Patrick Schleiffer (Capital Markets) and associates Rebecca Rötheli and Patrick Sattler (all Capital Markets and Corporate/M&A).