AltaGas sells 35 pct stake in hydro projects for $922 mln: Reuters
Canadian utility AltaGas Ltd has agreed to sell a 35 percent stake in three hydroelectric projects in Northwest British Columbia for $922 million to help fund its acquisition of U.S.-based WGL Holdings Inc, Reuters reported. The sale to a joint venture owned by Axium Infrastructure, a Canadian infrastructure investment firm, and Manulife Financial Corp is part of a plan to raise $2 billion of the $8.4 billion WGL deal. AltaGas, which will remain the majority holder of the projects, said it expected the deal to close this month. The projects include the 195-megawatt Forrest Kerr Hydroelectric Facility, the 16-megawatt Volcano Creek Hydroelectric Facility, and the 66-megawatt McLymont Creek Hydroelectric Facility.
13 June 2018•1 min read
