Duke, American Ink $193M Deal For Calif. Power Line Stake

Law360, New York (March 11, 2013, 6:04 PM EDT) -- A joint venture of Duke Energy Corp. and American Transmission Co. has picked up a majority stake in an 84-mile California power line through a $193 million deal with Atlantic Power Corp., according to statements released Monday.

Duke-American Transmission Co. will grab the majority 72 percent interest in the 500-kilovolt power line known as Path 15 in a deal that includes assuming a $137 million debt tied to the project and that will funnel $56 million million in net cash proceeds to Atlantic Power, according to...
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