Hydrogenics Corporation, a designer and manufacturer of fuel cell technology, acquired on January 8, 2003, all the outstanding shares of Burnaby, B.C.-headquartered Greenlight Power Technologies, Inc., its principal competitor in the fuel-cell-test business, in a transaction valued at US$19 million. Under the terms of the transaction, Greenlight shareholders received US$2.25 million in cash plus 4,328,018 Hydrogenics’ common shares, representing about 8 per cent of the outstanding shares.
Hydrogenics was represented in-house by Jon Lundy, vice-president, corporate affairs and corporate secretary, supported by Mark Trachuk, David Surat, Katy Waugh and Florence Weinstock of Osler, Hoskin & Harcourt LLP.
Geoffrey Belsher, Andrew McLeod and Michael Raven of Blake, Cassels & Graydon LLP in Vancouver acted for Greenlight. Michael Urbani of McCarthy Tétreault LLP in Vancouver acted for Ventures West, one of Greenlight’s principal investors.
Hydrogenics was represented in-house by Jon Lundy, vice-president, corporate affairs and corporate secretary, supported by Mark Trachuk, David Surat, Katy Waugh and Florence Weinstock of Osler, Hoskin & Harcourt LLP.
Geoffrey Belsher, Andrew McLeod and Michael Raven of Blake, Cassels & Graydon LLP in Vancouver acted for Greenlight. Michael Urbani of McCarthy Tétreault LLP in Vancouver acted for Ventures West, one of Greenlight’s principal investors.
