Midroc New Technology returns as owner in PowerCell

Dec 5, 2019

PowerCell Sweden AB has informed that the formerly large shareholder in PowerCell, Midroc New Technology, has acquired 2,138,114 shares in PowerCell, representing 4.1% of votes and capital, from the Belgian investment company Finindus.

The transaction means that Midroc New Technology returns as a large owner in PowerCell and that Finindus decreases its ownership in PowerCell from 8.0% to 3.9%.

Midroc New Technology is a venture capital company within Midroc Europe, an international company group headquartered in Stockholm. Midroc New Technology has been an owner in PowerCell since 2008 and sold all of its holding in PowerCell to Robert Bosch GmbH in November. Following the transaction with Finindus, Midroc New Technology is back as a large owner in PowerCell Sweden AB.

Finindus is a Belgian investment company owned by ArcelorMittal and the Flemish region. The company has been a major owner in PowerCell since 2008 but has gradually decreased its ownership in PowerCell over the last couple of years.

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