Arverne Group went public via SPAC merger with Transition in a €257m deal.

Arverne Group, an environment renewable natural resources, went public via SPAC merger with Transition, an investment company specialized in the acquisition of shares in businesses operating in the energy transition sector, in a €257m ($279m) deal. "With this transaction, Arverne is taking a decisive step towards becoming the French champion of geothermal and low-carbon lithium production at a time when demand for key resources to decarbonize our economy is exponential. It's a natural alliance between highly complementary entrepreneurs in the energy transition who share a common ambition, vision and values. We are grateful of the trust placed in us by renowned investors, whom I would like to thank for supporting our sustainable growth strategy. Being publicly listed will enable us to capitalize on our unique expertise and strategic positioning across the entire subsurface value chain in order to accelerate our growth in France and Europe while supporting the energy transition and regional prosperity," Pierre Brossollet, Arverne Group Chairman and CEO.