By Josh Beckerman

EVBox Group, an electric vehicle charging products company owned by Engie SA, agreed to merge with a blank-check company formed by TPG.

TPG Pace Beneficial Finance said the transaction values EVBox at an implied $969 million enterprise value. The blank-check company's shares were up 110% after hours to $23.34.

Engie will retain a stake of more than 40%.

A $225 million private placement at closing will include participation from BlackRock Inc., Inclusive Capital Partners, Neuberger Berman Funds and Wellington Management.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 10, 2020 19:03 ET (00:03 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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