in News Departments > FYI
print the content item

Emera Inc. says it has exchanged certain previously acquired subscription receipts into 12 million common shares of Algonquin Power & Utilities Corp. at a price of C$5 per common share.

The subscription receipts were acquired on March 25, 2011, in connection with the previous announcement by Algonquin that Liberty Energy Utilities Co. - Algonquin's regulated utility subsidiary - had entered into agreements to acquire all issued and outstanding shares of Granite State Electric Co. and Energy North Natural Gas Inc. from National Grid USA for US$285 million.

Algonquin will use the proceeds from the subscription receipt conversion to partially fund this acquisition, which is expected to be completed during this quarter.

In addition to the 12 million common shares acquired, Emera owns 8.523 million previously acquired common shares of Algonquin, representing a current ownership position of 20.523 million common shares, or approximately 13% of Algonquin's issued and outstanding shares.


Hse SandyHook
Latest Top Stories

Does Income Determine Who Benefits The Most From Smart Grids?

According to the Smart Grid Consumer Collaborative, low-income consumers may be at a disadvantage.


Accenture And Siemens Form Smart Grid Joint Venture

OMNETRIC Group will help utilities improve energy efficiency, grid operations and reliability.


Maine Public Utilities Commission: Smart Meters Are Safe

According to a report by the commission, there is no direct link between smart meters and health issues.


Report: Global Solar Deployment Topped Wind In 2013

Research firm Clean Edge finds that solar surpassed wind for the first time since it began tracking international markets in 2000.


HEM Is Key For Utilities To Maintain A Competitive Edge

According to a report by Lux Research, automated meters, electricity rates and renewable energy are crucial to the success of home energy management.

S&C Electric_id176
edf_id