Hydro-Quebec, NB Power Finish Smaller, $3B Deal

Law360, New York (January 20, 2010, 3:30 PM EST) -- Quebec government-owned utility Hydro-Quebec and New Brunswick Power on Wednesday completed a $3.05 billion deal, scaling back a transaction originally set at $4.5 billion that drew the ire of a neighboring province when originally announced in October.

Under the terms of the deal, announced by the premiers of Quebec and New Brunswick, Hydro-Quebec added most of New Brunswick Power's generating assets, including seven hydro-electric plants, two diesel peaking units and transmission rights, for about $1.7 billion.

Hydro-Quebec will now be able to transmit 670 megawatts into...
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