LONDON: EDF Energy Customers Limited (EDF) has agreed to acquire Pod Point Group Holdings PLC (“Pod Point”) in a recommended cash deal valued at approximately £10.6 million, the companies announced Thursday.
Under the terms of the acquisition, Pod Point shareholders will receive 6.5 pence per share, a 24% premium over the closing price of 5.24 pence on April 23, 2025, the last trading day before the offer period began.
The deal will be implemented through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. EDF, which already owns about 53% of Pod Point’s issued share capital, will take full control of the electric vehicle charging company.
The boards of both companies have unanimously recommended the acquisition, which is subject to approval by Pod Point shareholders and regulatory clearances.
Pod Point, a leading U.K. provider of electric vehicle charging solutions, will expand EDF’s energy and mobility services.
EDF Energy Customers Limited (“EDF”) will acquire full control of Pod Point Group Holdings PLC (“Pod Point”), a leading UK electric vehicle (EV) charging provider, in a deal aimed at accelerating the country’s transition to net-zero emissions.
EDF, which already owns 53% of Pod Point, cited the need for long-term financial stability as the key driver behind the £10.6 million acquisition. Pod Point, despite its strong brand and extensive charging network, has struggled with profitability due to slower-than-expected EV adoption and rising competition.
The move will allow Pod Point to operate as a wholly-owned EDF subsidiary, freeing it from public market pressures and enabling deeper integration with EDF’s energy grid and renewable power solutions.
Pod Point’s board unanimously recommended the deal, acknowledging that securing alternative financing in the current market would be “highly challenging.” Without EDF’s takeover, the company warned of potential liquidity risks.
The acquisition is expected to close following shareholder and regulatory approvals.
Philippe Commaret, Managing Director of EDF said: “EDF has a long-standing commitment to electric vehicles and a strong customer offering with one of the most competitive EV tariffs in the market. We aim to strengthen our leading position in EV charging, including through Pod Point. Our offer for Pod Point will allow it to benefit from long-term stability and enhanced operational support providing greater certainty for its customers. We look forward to Pod Point being a full member of the Wider EDF Group.
Electric vehicles offer consumers the chance to save money and carbon. Electrification of transport, heat and industrial processes strengthens Britain’s energy security and protects consumers from volatile fossil fuel prices.”
Andy Palmer, Chair of Pod Point, said: “After much careful deliberation and active engagement with EDF, the Board has determined that this offer represents the best value for all Pod Point shareholders, employees and other stakeholders. As a good strategic fit within the EDF Group, we believe it puts Pod Point on the road to a long-term, sustainable future, to the wider benefit of all its stakeholders.”