Investing
Varta seals auto battery investment from Porsche
Published : 1 month ago, on
GDANSK (Reuters) – Struggling German battery maker Varta said luxury car maker Porsche AG would invest in its business unit for large-format lithium-ion cells through a majority stake in its automotive battery unit V4Drive.
In order to implement the investment, a capital increase will be carried out at V4Drive Battery GmbH,” Varta said.
The deal is expected to close in the first quarter of next year pending regulatory approvals.
(Reporting by Andrey Sychev, editing by Kirsti Knolle)
-
Finance3 days ago
1inch appoints a new Chief Compliance Officer
-
Banking3 days ago
Worldline enlists bankers to sell its Mobility division, sources say
-
Finance2 days ago
The Best Services For International Payments In 2024
-
Banking4 days ago
Commerzbank seeks to fend off UniCredit as both banks hike targets