Gresham House Renewable Energy VCTs exit their investments in ChargePoint Services

Gresham House Renewable Energy VCT 1 and Gresham House Renewable Energy VCT 2 have exited their investments in ChargePoint Services Ltd (CPS) via a trade sale to French Utility, Engie, as part of their buyout of CPS. Engie is the second-largest provider of EV charging stations in the world and through this deal will add ChargePoint Services’ 900 public and workplace EV charge points to their inventory.

The exit will generate a total rate of return to shareholders of 11.9% per year based on the initial purchase consideration, rising to 13.2% per year if all future tranches of the purchase consideration are received.

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