Plug Power Inc. has taken significant steps toward completion of the previously announced $217 million cash investment by the principal investors of Interros, a major Russian investment firm, and Norilsk Nickel, the world’s largest producer of nickel and palladium. The parties have received Hart-Scott-Rodino antitrust clearance and clearance by the Committee on Foreign Investment in the United States (CFIUS).
“With the regulatory approval process behind us, we are looking forward to our stockholder meeting later this month and moving closer to completion of the transaction,” said Dr. Roger Saillant, CEO and President of Plug Power.
As previously disclosed, the transaction is expected to close this summer, subject to customary closing conditions and approval by Plug Power’s stockholders. Plug Power stockholders will vote on the proposed investment transaction at Plug Power’s Annual Meeting of Stockholders to be held on Wednesday, June 28, 2006 at 10:00 a.m. EDT at the NASDAQ, Four Times Square in New York, N.Y.
In addition, the Company will host a live webcast of the Stockholders’ Meeting. To access the webcast, go directly to the following website and select the Stockholders’ Meeting link on the home page. A playback of the meeting will be available on the company’s Web site for a period following the meeting.
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