Smith US Granted Deal Talks Extension

Smith Electric Vehicles US Corporation remains locked in talks to buy the entire Smith Electric Vehicles operation out of parent company Tanfield Group Plc.

Tanfield owns 100% of Smith Electric Vehicles UK and 49% of Smith US, which builds the Smith Newton electric truck under license in North America. In March, Smith US made a conditional offer to buy Tanfield’s 49% stake, the license agreement and the Smith UK business.

Tanfield has granted Smith US a 60-day extension to its exclusivity period, which gives Smith US until September to table a formal offer.

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