EDF Energy has announced a recommended cash acquisition of Pod Point Group Holdings PLC, valuing the electric vehicle charging company at approximately £10.6 million.
Pod Point operates one of Britain’s leading EV charging networks, with over 250,000 charging points and strong commercial relationships with major automotive manufacturers, housebuilders, and fleet companies.
Under the terms of the deal, Pod Point shareholders will receive 6.5 pence in cash for each share held. The offer represents a 24 per cent premium to the closing price of 5.24 pence per share on 23 April 2025, the last trading day before the offer period commenced.
EDF currently holds approximately 53% of Pod Point’s issued share capital.
Today’s announcement comes after a long, painful period of financial difficulties for Pod Point. The company has remained cash flow negative throughout its history, relying on grant funding and EDF’s financial support to execute its business strategy. The company faces liquidity pressures and would require substantial third-party financing to continue as an independent entity—financing that would be difficult to secure under current market conditions.
EDF says they believe full ownership will provide Pod Point with long-term stability and enhanced operational support, enabling continued investment in charging technology and customer service.
The deal also provides a way out for Pod Point that would likley face administration if EDF didn’t step in.
Another UK-listed company bites the dust.