Xebec Adsorption Inc. (XBC) is next to SHOPIFY (SHOP) the best performing stock in our ETF (see the full list here!) Both have doubled in price in 7 months. We would not recomend buying it right now because it is up more than 100% since June. But it certainly is a stock to keep on your watchlist untill it drops and brings a nice TA buying opportunity.
Last December Xebec bought HyGear a dutch company. from Arnhem, The Netherlands, HyGear, the specialist in on-site hydrogen generation and supply in Arnhem, The Netherlands, announced today that its shareholders have entered into a definitive agreement for the company to be acquired by Xebec Adsorption Inc. (TSXV: XBC), a global provider of clean energy solutions from Montreal, Canada. The new combination means both the launch of Xebec’s hydrogen strategy as well as the mark for the next stage in the growth plans of HyGear.
Under the terms of the agreement, all of the issued and outstanding shares of HyGear’s parent company, Green Vision Holding (“HyGear”) will be transferred to Xebec Europe, a wholly owned subsidiary of Xebec Adsorption Inc. (“Xebec”, against a consideration of €82 million. HyGear’s shareholders will receive €42 million in cash upon closing and the balance in Xebec Common shares at the weighted average trading price over the last 15 days prior to December 8, 2020, which shares will be admitted to listing on the TSX Venture Exchange in Toronto, Canada. The acquisition is expected to close on or about December 30, 2020 (the “Acquisitions Closing”) and is subject to regulatory approval and other customary closing conditions.
The combination of Xebec’s renewable natural gas and HyGear’s hydrogen generation technologies create a viable, credible, competitive and readily available green hydrogen offering. In addition, the combined companies will create an essential pathway across different geographies and markets and the ability to realise and create significant product and sales synergies. HyGear will be an integral part of Xebec Europe and its headquarters will remain in Arnhem, The Netherlands.
