A Volta Zero electrical truck is seen in the course of the 2023 Munich Auto Present IAA Mobility, in Munich, Germany, September 6, 2023. REUTERS/Angelika Warmuth/File Picture Purchase Licensing Rights
LONDON, Dec 1 (Reuters) – The UK enterprise and property of Volta Vans have been bought to a brand new unit of hedge fund Luxor Capital, which had invested closely within the electrical truck maker, the bankrupt firm’s directors stated on Friday.
The directors stated the corporate had been bought to Volta Industrial Automobiles Restricted, with out offering monetary particulars.
“We’re happy to have safeguarded the way forward for Volta Vans by facilitating its acquisition by Volta Industrial Automobiles Ltd,” Andrea Jakes, managing director of Alvarez & Marsal and one of many directors, stated in an announcement.
Volta, which is headquartered in Sweden however which had its operations in the UK, filed for chapter final month citing the chapter in August of its provider Proterra and uncertainty over its battery provider, which had made it arduous to boost capital from buyers.
The startup had raised a complete of round 460 million euros ($501.4 million) from buyers and had taken orders for greater than 5,000 vans earlier than it filed for chapter.
($1 = 0.9174 euros)
Reporting By Nick Carey; Modifying by Sharon Singleton
Our Requirements: The Thomson Reuters Belief Ideas.
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