Stock Groups

Harley’s electric motorcycle division to go public via $1.7 billion SPAC deal -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – The Harley Davidson LiveWire electric bike, which was developed with Panasonic Automotive in partnership, is shown during a Panasonic press conference at the 2019 Consumer Electronics Show in Las Vegas (Nevada) January 7, 2019. REU

(Reuters) -Harley-Davidson Inc’s electric-motorcycle segment LiveWire will become public via a merger in which a firm with blank-check status is involved. The deal values LiveWire at $1.77 Billion, including debt.

The $400 million in cash that AEA Bridges Impact Corp has been holding in trust, as well as another $100 million each from Harley or KYMCO will fund the deal.

Harley’s stock rose 11.3% in premarket trades, while those from AEA Bridges were up 3.4%.

Jochen Timez, Harley’s former chief executive will become the chairman of LiveWire after the agreement is closed.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]