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BlackRock close to investing 500 million euros in Ionity -sources By Reuters

BlackRock close to investing 500 million euros in Ionity -sources © Reuters. FILE PHOTO: People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann

FRANKFURT (Reuters) – BlackRock (NYSE:BLK) is close to investing around 500 million euros ($582 million) in electric vehicle charging group Ionity, two people familiar with the matter said.

There is no guarantee that a deal will materialise and talks between the parties could still fall apart, the people added.

Ionity, whose owners include Volkswagen (DE:VOWG_p), Daimler (OTC:DDAIF), BMW and Ford, in March said it was examining ways to expand its network of fast-chargers across Europe.

Sources told Reuters in June that Royal Dutch Shell (LON:RDSa) and Renault (PA:RENA) were among those interested in taking a 20-25% stake valued at 400-500 million euros.

BlackRock declined to comment on the investment, which was first reported by manager magazin.

A spokesperson for Ionity declined to comment, saying that the company was constantly discussing additional investment possibilities with its shareholders, which also include Hyundai Motor, and that additional investors were welcome.