Power Sustainable Capital ups stake in Lion Electric Company

The purchase price is about $25 million (C$34 million).

  • The deal increases Power Sustainable’s interest in Lion Electric to about 35.4 percent
  • Power Sustainable is a sustainable investment manager with offices in Canada, China and the US
  • In November, Lion Electric secured a C$30 million credit facility from Caisse de dépôt et placement du Québec and Finalta Capital

Power Sustainable Capital, an affiliate of Power Corp of Canada, has acquired more than 9.8 million units of Lion Electric Company, a Saint-Jérôme, Quebec-based manufacturer of zero-emission vehicles. The purchase price is about $25 million (C$34 million).

The deal increases Power Sustainable’s interest in Lion Electric to about 35.4 percent of issued and outstanding shares on a non-diluted basis.

Lion Electric creates, designs and manufactures all-electric class 5 to class 8 commercial urban trucks and all-electric buses and minibuses for the school, paratransit and mass transit segments. It trades on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “LEV.”

In November, Lion Electric secured a C$30 million credit facility from Caisse de dépôt et placement du Québec and Finalta Capital.

Based in Montreal, Power Sustainable is a sustainable investment manager with offices in Canada, China, and the US. It invests in companies and projects with the potential to deliver returns while contributing to decarbonization, social progress and quality growth. Power Sustainable deploys capital in infrastructure, private equity and public equities.