A Canadian consortium, consisting of the Public Sector Pension Investment Board (PSP Investments) and the Alberta Teachers’ Retirement Fund Board (ATRF) have agreed to indirectly acquire the issued and outstanding common shares of AltaGas Canada (ACI) in a $1.7 billion all-cash transaction.
The cash consideration of $33.50 per common share represents a 31 percent premium to the closing price of the common share on Oct. 18, according to a press release.
“We will be a stronger company which will afford us new and exciting opportunities in addition to the fantastic growth plans we already have in place,” said Jared Green, president and CEO of ACI. “As we go forward, we will continue to execute on those plans and maintain the strong relationships we have built with our regulators.”
AltaGas Canada is a natural gas utility and renewable power business with 132 megawatts of net renewable generation, according to the company’s website. It also operates wind
