ING CORPORATE INVESTMENTS GETS SHARE IN DUTCH FULL ELECTRIC BUS PIONEER EBUSCO
International law firm Simmons & Simmons advised ING Corporate Investments, the co-investment branch of ING Bank, on their investment in Ebusco B.V., a Dutch company which develops, markets and sells full electric (public transport) buses in the European market. The transaction was structured as a share issuance that resulted in a minority stake in Ebusco for ING CI. The Dutch Government of Economic Affaires supplies financial support to Ebusco.
Ebusco is a pioneer in the development of electric bus transport and was the first European company to receive a full European type approval for a full electric bus. ING also provides a loan which, together with a loan from the Dutch Ministry of Economic Affairs, will be used to expand the production of electric buses rapidly, since all public transport buses in the Netherlands are required to be emission-free by 2030.