Leclanché sets a spin-off for transport batteries
The Swiss company has also confirmed that it has signed a mutually exclusive letter of intent with a U.S.-listed Special Purpose Acquisition Company (SPAC) for merging with Leclanché E-Mobility S.A.
In the last days of December, Swiss energy storage solutions specialist Leclanché announced a spin-off for transport batteries. The name of the spin-off is Leclanché E-Mobility S.A. The Swiss company has also confirmed that it has signed a mutually exclusive letter of intent with a U.S.-listed Special Purpose Acquisition Company (SPAC) for merging with Leclanché E-Mobility S.A. Even though the SPAC has not been named, we know that the merger is expected to be completed by the second quarter of 2022.
According to Leclanché, «the Board of Directors and the Executive Committee of Leclanché are convinced that a successful completion of this exciting merger would be good for all Leclanché shareholders, all Leclanché employees, and all other stakeholders such as our customers and suppliers. Further details shall be provided at the time of the announcement of a definitive merger, expected by mid-February 2022».
The reasons behind Leclanché spin-off and merger
The aforementioned merger is due, according to the Swiss company, to recent and well-known supply chain difficulties. Here’s how Leclanché commented: the company «has reviewed the current worldwide supply chain situation and its impact on its production capacity including longer lead-times for raw materials; shortage of high-grade plastics parts, such as sensors and connectors; and continued requests from some customers, who are facing the same supply chain issues, to defer their 2022 deliveries. The Company estimates that the current intermittent production will probably last through the end of the first quarter of 2022».
