Algonquin Power Income Fund Strengthens Utility Division Through a Strategic Partnership with Emera Inc.(Company overview)

Investment Weekly News | May 9, 2009 | Copyright

Algonquin Power Income Fund ("Algonquin Power") (TSX: APF.UN) announced that it plans to co-acquire an electrical generation and regulated distribution utility through a strategic partnership with Emera Inc. ("Emera") (TSX:EMA). Algonquin Power and Emera will each own 50% of the newly formed California Pacific Electric Company ("Calpeco"), which intends to acquire the California-based electricity distribution and related generation assets (the "California Utility") of NV Energy, Inc. (NYSE:NVE) for the purchase price of approximately US $116 million, subject to certain ...

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