By Josh Beckerman

Shares of TPG Pace Beneficial Finance Corp., a blank-check company formed by TPG, rose 116% after hours as it agreed to merge with EVBox Group, which focuses on electric vehicle charging.

EVBox Group is now part of Engie SA, which will retain a stake of more than 40%. TPG Pace Beneficial Finance said the transaction values EVBox at an implied $969 million enterprise value.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 10, 2020 18:30 ET (23:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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