White & Case Helps Fortis In $1.5B CH Energy Buy

Law360, New York (February 21, 2012, 12:24 PM EST) -- Canadian utility Fortis Inc. will purchase New York-based energy distributor CH Energy Group Inc. for $1.5 billion in cash as it wades into the U.S.-regulated market, Fortis said Tuesday.

Fortis, Canada’s largest investor-owned distribution utility, will assume $500 million in debt from CH Energy as part of the $65 per-share acquisition. The deal is expected to close within a year, Fortis said.

Poughkeepsie, N.Y.-based CH Energy owns Central Hudson Gas & Electric Corp., a regulated transmission and distribution utility with about 300,000 electric and 75,000 natural...
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