Chi­nese firm to get stake in Bal­lard Power Sys­tems

The Peterborough Examiner - - Business | Classified -

Fuel cell com­pany Bal­lard Power Sys­tems Inc. is set to re­ceive a cash in­jec­tion of more than $175 mil­lion in what it calls a “trans­for­ma­tive strate­gic col­lab­o­ra­tion” with a Chi­nese au­to­mo­tive and equip­ment man­u­fac­turer. We­ichai Power has signed a deal to ac­quire a 19.9 per cent stake in Bal­lard for $163 mil­lion and es­tab­lish a joint ven­ture in China with the Cana­dian firm. The agree­ment will make it the fuel cell firm’s largest share­holder. An­other $20 mil­lion will come from Bal­lard in­vestor and Chi­nese part­ner, Zhong­shan Broad­Ocean Mo­tor Co. Ltd. It agreed to pay the funds to main­tain its 9.9 per cent stake in Bal­lard.

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