Vancouver, British Columbia-based Xantrex Technology Inc., a developer and manufacturer of advanced power electronic products and systems for the renewable and mobile power markets, has announced the completion of the plan of arrangement with Schneider Electric S.A. pursuant to which an affiliate of Schneider Electric acquired all of the outstanding common shares of Xantrex for a cash purchase price of C$15 per common share.
‘We would like to take this opportunity to thank our directors, shareholders, management, employees, customers and other stakeholders for their support, and we look forward to being able to better serve customers around the world with complete renewable power systems solutions and service through Schneider Electric's outstanding global distribution, supply chain and service network,’ says Mossadiq Umedaly, past chairman of Xantrex.
With the completion of the plan of arrangement, Xantrex's common shares will cease to be listed for trading on the Toronto Stock Exchange, effective today.
SOURCE: Xantrex Technology Inc.
