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BlackRock close to investing 500 million euros in Ionity -sources

Reuters
·1 min read

FRANKFURT, Oct 21 (Reuters) - BlackRock is close to investing around 500 million euros ($582 million) in electric vehicle charging group Ionity, two people familiar with the matter said.

There is no guarantee that a deal will materialise and talks between the parties could still fall apart, the people added.

Ionity, whose owners include Volkswagen, Daimler , BMW and Ford, in March said it was examining ways to expand its network of fast-chargers across Europe.

Sources told Reuters in June that Royal Dutch Shell and Renault were among those interested in taking a 20-25% stake valued at 400-500 million euros.

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BlackRock declined to comment on the investment, which was first reported by manager magazin.

A spokesperson for Ionity declined to comment, saying that the company was constantly discussing additional investment possibilities with its shareholders, which also include Hyundai Motor, and that additional investors were welcome. ($1 = 0.8593 euros) (Reporting by Christoph Steitz, Editing by Nick Zieminski)