With Fuel Systems ‘Surviving the Merger as a Wholly Owned Subsidiary’
Westport Innovations reports that its marriage with Fuel Systems Solutions, Inc. is going forward, as the proposal has satisfied the requirements of the U.S. Hart-Scott-Rodino legislation. “There is no further antitrust clearance required to close the transaction,” Westport said last week.
FSSI is the parent of natural gas vehicles developer and upfitter Impco Automotive, of BRC and FuelMaker for NGV fueling equipment, and other brands. The merger with Westport was announced on September 1 (F&F, September 1).
Westport has formed a subsidiary called Whitehorse Merger Sub, which is to “merge with and into Fuel Systems, with Fuel Systems surviving the merger as a wholly owned subsidiary of Westport.”
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Source: Westport with Fleets & Fuels follow-up