Evergreen SAS made an offer to acquire Evergreen SA for approximately €120 million in a reverse merger transaction on June 23, 2020. Under the terms of transaction, Transition Evergreen issued 29,019,149 new shares. Pre deal, Evergreen held 54.43% stake and post completion, it will hold 100% stake in Evergreen SAS. The Board of Evergreen recommends approved the transaction. As on July 22, 2020, Evergreen initiated the simplified takeover bid. Globalscope Partners Limited acted as financial advisor in the transaction.

Evergreen SAS completed the acquisition of Evergreen SA in a reverse merger transaction on June 21, 2021. Evergreen changes its name and becomes Transition Evergreen Transition Evergreen becomes the 1st listed investment vehicle in France dedicated to ecological transition. The 1,465,615 Transition Evergreen shares held by Evergreen SAS prior to the merger were automatically contributed to Transition Evergreen as part of the merger.