Engie’s EVBox to Go Public in $1.4 Billion TPG SPAC Deal (2)

TPG Pace Beneficial Finance Corp., a special purpose acquisition company, agreed to acquire EV Charged BV, a unit of French utility Engie SA that specializes in electric-vehicle charging technology.

The deal will create a combined entity, EVBox Group, with a valuation of about $1.4 billion, the companies said Thursday. It will give EV Charged, which does business as EVBox, an implied enterprise value of $969 million. Engie, which acquired EVBox in 2017, will retain a stake of more than 40%.

Founded in 2010, Amsterdam-based EVBox makes hardware and software, and operates a network of more than 190,000 charge ports ...