Hydro Energy Invest AS has entered a transaction to exchange its minority stake in Lithium de France for a minority shareholding in Arverne Group.
Arverne Group, listed on Euronext Paris, is a French provider of geothermal solutions and the largest shareholder in Lithium de France. Hydro acquired a 12 per cent stake in Lithium de France in 2023.
As part of the transaction, Hydro Energy Invest AS, a wholly owned Hydro entity, transfers its 474,753 Lithium de France shares to Arverne Group. In return, 2,232,288 new Arverne Group shares are issued to Hydro Energy Invest AS, giving Hydro an ownership of 6 per cent of Arverne Group’s current voting share capital.
Hydro Energy Invest AS is committed to retaining its Arverne Group shares until the earlier of the date of completion of a capital increase by Arverne Group and a period of 18 months from the date of completion of the contribution.
The transaction positions Hydro to remain engaged in the energy transition, while scaling back direct investments within the battery space and enabling a sharper focus on core business priorities.
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Note: This article has been issued by Hydro and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
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