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posted June 29, 2006 05:49 PM
Interros closes deal to buy 35% stake in U.S. energy products firm
MOSCOW, June 29 (RIA Novosti) - Interros, Russia's largest non-energy financial industrial group, said Thursday it had signed a $241.28-million deal to acquire a 35% stake in U.S. energy products provider Plug Power (Nasdaq: PLUG).
An agreement on the deal, which was signed in April, was approved by U.S. regulating authorities and by Plug Power shareholders.
As a result of the deal, Smart Hydrogen, formed by Interros and Russian metals giant Norilsk Nickel (RTS ticker: GMKN), in which Interros holds a controlling stake, now holds 35% in Plug Power.
Plug Power is a leading U.S. designer of environmentally clean and reliable energy products with a market capitalization of more than $550 million.
  
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