OMERS to invest $400 mln in AltaGas' $8.4 bln acquisition of WGL

Canadian energy infrastructure company AltaGas Ltd (TSX: ALA) has agreed to acquire WGL Holdings Inc (NYSE: WGL), the U.S. parent of natural-gas utility Washington Gas Light Co, in a deal valued at $8.4 billion. The acquisition, which is expected to close by Q2 2018, will be funded in part by a private placement transaction involving the Ontario Municipal Employees Retirement System (OMERS). The OMERS investment will generate gross proceeds of about $400 million. Calgary's AltaGas said the acquisition of WGL, which will continue to reside in Washington, D.C., will give it growth opportunities in the midstream, power and utilities markets.

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