Westport signs private equity deal for up to $71.3 million

Westport Innovations Inc, a Vancouver-based developer of natural gas engines and vehicles, will receive up to $71.3 million in financing from New York City-based private equity firm Cartesian Capital Group. The agreement will see $17.3 million provided immediately, $17,5 million in convertible debenture notes, $20 million to support two or more new product ventures and $16.3 million in asset sales to Cartesian....