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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.