Emera to sell Maine operations in deal valued at $1.8B, including debt
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Emera to sell Maine operations in deal valued at $1.8B, including debt

Emera Inc. logo is seen in this undated handout photo. Emera Inc. has signed a deal to sell its operations in Maine to Enmax Corp. in a deal valued at $1.8 billion, including debt. Under the agreement, Enmax will pay $1.29 billion plus assume roughly $500 million in debt. THE CANADIAN PRESS/HO, Emera Inc. *MANDATORY CREDIT*

HALIFAX — Emera Inc. has signed a deal to sell its operations in Maine to Enmax Corp. in a deal valued at $1.8 billion, including debt.

Emera Maine is headquartered in Bangor and serves 159,000 customers in the northern part of the state.

It is a regulated electric transmission and distribution company.

Under the deal, Enmax will pay $1.29 billion plus assume roughly $500 million in debt. 

In American currency, the companies value the total deal at US$1.3 billion, including debt. 

The deal is expected to close late this year, subject to conditions and regulatory approvals, including by the Maine Public Utilities Commission and the U.S. Federal Energy Regulatory Commission.

 

 

 

Companies in this story: (TSX:EMA)

 

 

The Canadian Press

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