Azure Dynamics completes acquisition of US-based Solectria
Client
Azure Dynamics Corporation
On January 31, 2005, Azure Dynamics Corporation, a leading developer of hybrid electric powertrains for commercial vehicles, announced that it had successfully completed the acquisition of Solectria Corporation, a leading US hybrid electric powertrain and components supplier.
Azure Dynamics acquired all the outstanding shares of Solectria in exchange for 25,297,655 of its common shares, resulting in Solectria's former shareholders owning approximately 19.8% of the Company's issued and outstanding common shares. An application was made for the shares to be admitted to AIM.
Fasken Martineau advised Azure in this acquisition with a team comprised of Alfred Apps, Tracy Hooey, Dan Batista and Benjamin Lee.
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