Cenntro Electric Acquires Majority Interest Of Tropos Motors Europe To Expand European Assembly Capability And Distribution Networks In Emea And Adds A Strategic Customer Network In Europe
Acquiring Company
Cenntro Automotive Group Ltd
Acquired Company
TROPOS MOTORS EUROPE
FreeholdManufacturingCommerce and ShoppingAutomotiveDescription
Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it entered into an agreement with Mosolf SE & Co. KG (“Mosolf”), one of Europe’s largest automotive logistics and service providers, to acquire a 65% equity interest in Tropos Motors Europe GmbH (“TME”), a wholly owned subsidiary of Mosolf, for €3.25 million and assume 100% of a shareholder loan from Mosolf to TME in the amount of €11.9 million. The transaction is subject to customary closing conditions and is expected to close in March 2022.
Quick answer
Cenntro Automotive Group Ltd is acquiring TROPOS MOTORS EUROPE, announced March 7, 2022. Cenntro Automotive Group Ltd is based in Freehold, New Jersey, United States.
- How much did Cenntro Automotive Group Ltd pay for TROPOS MOTORS EUROPE?
- The deal value was not disclosed.
- What does Cenntro Automotive Group Ltd do?
- Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with advanced, market-validated electric commercial vehicles.
- Where are Cenntro Automotive Group Ltd and TROPOS MOTORS EUROPE based?
- Cenntro Automotive Group Ltd is based in Freehold, New Jersey, United States.
Source: Fundz verified event record.
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Who to call at Cenntro Automotive Group Ltd, and when
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Frequently asked
Who acquired TROPOS MOTORS EUROPE?
TROPOS MOTORS EUROPE was acquired by Cenntro Automotive Group Ltd, based in Freehold. The deal was reported on March 7, 2022. Cenntro Electric Group (NASDAQ: CENN) is a leading EV technology company with advanced, market-validated electric commercial vehicles. Cenntro Automotive Group Ltd is publicly traded (CENN) and operates in Manufacturing.
When did Cenntro Automotive Group Ltd acquire TROPOS MOTORS EUROPE?
Cenntro Automotive Group Ltd's acquisition of TROPOS MOTORS EUROPE was reported on March 7, 2022. Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that it entered into an agreement with Mosolf SE & Co. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does TROPOS MOTORS EUROPE do?
Tropos Motors Europe, a subsidiary of the MOSOLF Group, is a specialist for compact, electric commercial vehicles for a wide range of target groups and applications. It is privately held.
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