Breaking news! NEVS is about to be completely taken over by Evergrande. The group of companies announced that it would like to take over the outstanding shares within a very short time. Evergrande currently holds 82.4% of the shares. The full takeover is expected within one day.
Evergrande takes control in Trollhättan
With this step, Evergrande ensures complete control over its production facilities and research and development facilities. Trollhättan has so far been the group's only plant outside of China. The takeover is completed before Evergrande launches the first vehicle. The presentation of the SUV is expected in the next few weeks.
The announcement was rated positively on the stock exchange. The Evergrande share was up 13.72% in the morning. In the meantime, it eased slightly, but is still up more than 9%.
In January 2019, the Evergrande Group rose as the new one with the acquisition of 51% of the shares Main shareholder at NEVS. Just 10 months later, the company invested another $ 3 billion, increasing the stake to 82.4%. The group terminates one for the remaining 17.6% today Purchase price from $ 379 million.
The complete takeover is not unexpected. In the past few weeks, the Shareholder structure adjusted by NEVS Shanghai. Personnel changes and departures were observed in Trollhättan. Also keep in the background speculation about a possible collaboration between Polestar and Koenigsegg. NEVS holds 20% of the manufacturer of exclusive sports cars, there is a joint development company.