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Forsee Power Closes Acquisition of NEoT Capital Shares from Mitsubishi.

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Vincent

MANews-(C)2009-2022

France-based smart battery systems specialist Forsee Power (PAR: FORSE) has completed the acquisition of investment firm NEoT Capital shares from Japan-based Mitsubishi Corp, the company said.

With the aim of facilitating and accelerating the transition to electric mobility (buses or other vehicles), Forsee Power created NEoT Capital with EDF and Mitsubishi Corp. in 2016 in order to finance electric fleet development in the form of battery/vehicle/infrastructure rental.

Historically, Forsee Power held 15% of this company dedicated to financing in the renewable energy and electric mobility sectors; Mitsubishi Corp. and EDF through EDF Pulse Holding together held 85% of the share capital and voting rights.

Forsee Power announces that it has completed the acquisition from Mitsubishi Corp. of its 240,608 shares of NEoT Capital.

This operation enables Forsee Power to strengthen its stake in the structure and at the end of the capital restructuring operations of NEoT Capital envisaged in the short term, Forsee Power will hold 50% of the share capital of NEoT Capital.

This operation reflects Forsee Power's strategy of offering a complete range of products and services with a positioning on...

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