Campine Makes Binding Offer to Acquire French Lead Operations from Ecobat

In a significant move, Ecobat, a leading company in sustainable battery recycling, has agreed to sell its battery recycling and specialty lead manufacturing operations in France to Campine NV, a Belgian company listed on the Euronext stock exchange.

The transaction, which is subject to legal information and consultation with employee representative bodies, as well as customary regulatory approvals, includes Ecobat's facilities in Estrée-Saint-Denis, Bazoches, and Pont-Sainte-Maxence.

Tom Slabe, President & CEO of Ecobat, announced the project and stated that this transaction represents an important milestone in Ecobat's ongoing strategy to sharpen its focus on sustainable battery recycling. Slabe believes that Campine's expertise and vision will provide a strong foundation for the future growth and stability of the French recycling business.

White & Case acted as the legal advisor to Ecobat for the transaction, while Rothschild & Co served as the financial advisor.

Slabe also announced that this project does not include Ecobat's lithium-ion battery collection business in France. He expressed confidence that this transaction will benefit Ecobat's employees, customers, and suppliers, as Campine NV intends to acquire the lead recovery and special production operations of Ecobat in France.

Ecobat has agreed to grant exclusivity to Campine NV for the contemplated transaction. The company continues to seek additional opportunities to create value for its shareholders beyond this transaction.

This marks Ecobat's exit from the French market, with the exception of its lithium-ion battery collection business. Ecobat remains committed to its mission of promoting sustainable battery recycling and creating value for its stakeholders.

Slabe concluded by saying, "This transaction is an important milestone in Ecobat's ongoing strategy to focus on sustainable battery recycling. We are confident that Campine NV's expertise and vision will provide a strong foundation for the future growth and stability of our French recycling business."