BorgWarner to acquire controlling stake in battery maker Akasol
By Jim Gibbins - 4th March 2021
USA / Germany – Automotive components supplier, BorgWarner Inc of Auburn Hills, Michigan, USA has reached agreement to buy Darmstadt-based battery producer, Akasol AG, stating the acquisition will expand its commercial vehicle electrification capabilities significantly. This deal follows its purchase of Delphi Technologies plc in November last year1.
Under the agreement Akasol is to become a wholly-owned subsidiary following BorgWarner’s launch of a voluntary public takeover offer at EUR120.00 per share in cash for all outstanding shares of Akasol. Holders of approximately 59% of Akasol’s outstanding shares have committed through Irrevocable Undertakings to accept the Offer with respect to their shares.
