Photo courtesy of Ecobat
Ecobat, a Dallas-based battery recycling and metals production firm, has received a binding offer from Belgium-based Campine NV to acquire Ecobat’s battery recycling and specialty lead manufacturing operations in France.
The planned asset transfer includes Ecobat’s facilities in Estrée-Saint-Denis, Bazoches and Pont-Sainte-Maxence, France, and signifies Ecobat's exit from the French market, with the exception of its lithium-ion battery collection business there.
“We are pleased to announce this project for our French recycling operations," Ecobat President and CEO Tom Slabe says. “This transaction represents an important milestone in our ongoing strategy to sharpen our focus on Ecobat’s core mission of sustainable battery recycling.
“Ecobat will continue to pursue additional opportunities to maximize value for shareholders beyond this contemplated transaction. We believe that Campine’s expertise and vision represent a strong foundation for the future growth and stability of the French recycling business, benefiting our employees, customers, and suppliers.”
Campine is a metals recycling and specialty chemicals company based in Beerse, Belgium, that is listed on the Euronext Brussels stock exchange.
The transaction remains subject to a legal information and consultation process with relevant employee representative bodies and customary regulatory approvals.
Rothschild & Co acted as financial advisor and New York-based White & Case acted as legal advisor to Ecobat on the transaction.
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