Shell, Renault interested in stake in VW-backed Ionity, sources say – Reuters

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Shell, Renault interested in stake in VW-backed Ionity, sources say – Reuters

FRANKFURT, June 29 (Reuters) - Royal Dutch Shell (RDSa.L) and Renault (RENA.PA) are among those interested in taking a stake in electric vehicle (EV) charging group Ionity, two people familiar with the matter said.

Ionity, whose owners include Volkswagen (VOWG_p.DE), Daimler (DAIGn.DE), BMW (BMWG.DE) and Ford (F.N), in March said it was examining ways to expand its network of fast-chargers across Europe, adding additional shareholders were welcome. read more

Final bids for the 20%-25% stake, which is valued at 400 million euros to 500 million euros ($475-$594 million), are due in July, one of the sources said. The sources asked not to be named because they are not authorised to talk to the press on the issue.

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