Hydro One to buy Brookfield's power transmission unit for $222 mln
Hydro One Ltd (TSX: H) has agreed to acquire Great Lakes Power Transmission LP, a regulated electricity transmission business operating along the eastern shore of Lake Superior, near Sault Ste. Marie, Ontario. Hydro One agreed to pay $222 million in cash for the business to current owner Brookfield Infrastructure. It will also assume Great Lakes Transmission's $151 million in outstanding indebtedness. Hydro One said that upon the deal's close it will operate about 98 percent of Ontario's transmission capacity. An electrical transmission and distribution utility, Hydro One went public late last year, raising over $1.6 billion.
29 January 2016•3 mins read
