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Williams sells Hybrid Power division to GKN
Williams Grand Prix Holdings has announced the sale of Williams Hybrid Power to GKN Land Systems Limited in a multi-million pound deal.GKN has agreed to purchase the whole of the issued share capital of Williams Hybrid Power Limited from Williams Grand Prix Engineering Limited. Under the terms of the transaction, Williams Grand Prix Engineering Limited will also receive additional consideration based on future sales and licences of the flywheel energy storage technology transferred with Williams Hybrid Power to GKN. Global financial advisory firm Lazard acted as advisor to Williams Grand Prix Holdings PLC in relation to the transaction.Williams Hybrid Power has been majority owned by...
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