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BlackRock close to investing 500 million euros in Ionity -sources -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A showroom hosts BlackRock in Davos. January 22, 2020. REUTERS/Arnd Wiegmann

FRANKFURT, Reuters – BlackRock (NYSE 🙂 may be close to investing approximately 500 million euros (582 million) in the electric vehicle charging group Ionity according two sources familiar with this matter.

The people said that there’s no guarantee of a deal and that talks could continue to fall apart.

Ionity is owned by Volkswagen (DE), Daimler(OTC:), BMW, and Ford. In March, it stated that it was looking at ways to increase its European network of fast-charging stations.

According to sources, Reuters was informed by sources that Royal Dutch Shell LON: and Renault PA: were interested in a 20%-25% stake at 400-500M euros.

BlackRock did not comment on the reported investment. Manager Magazin first reported it.

Ionity spokeswoman, however, declined to comment. She stated that Ionity is always in discussion with shareholders about additional investments, including Hyundai Motor. Additional investors are welcome.

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