TransAlta to acquire Heartland Generation from Energy Capital for $542M

TipRanks11-15 20:30

TransAlta (TAC) announced that it has entered into an amending agreement to the share purchase agreement with an affiliate of Energy Capital Partners, ECP, the parent of Heartland Generation Ltd. and ...

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In order to meet the requirements of the federal Competition Bureau, TransAlta has also entered into a consent agreement with the Commissioner of Competition pursuant to which TransAlta has agreed to divest Heartland’s Poplar Hill and Rainbow Lake assets following closing of the Transaction. Closing of the Transaction is expected to occur on or before December 4, 2024. In consideration of the Divestitures, TransAlta and ECP have agreed to a purchase price reduction of $80 million for the Transaction. ECP will be entitled to receive the proceeds from the sale of Poplar Hill and Rainbow Lake, net of certain adjustments following completion of the Divestitures. The net cash paymen","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4022":"陆运","TAC":"Transalta Corp","HTLD":"哈特兰快递","BK4232":"货物陆运","BK4105":"独立电力生产商与能源贸易商"},"translate_title":"TransAlta将以5.42亿美元从Energy Capital收购Heartland Generation","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HTLD":1,"TAC":1},"content_text":"TransAlta (TAC) announced that it has entered into an amending agreement to the share purchase agreement with an affiliate of Energy Capital Partners, ECP, the parent of Heartland Generation Ltd. and Alberta Power, relating to the previously announced acquisition of Heartland and its business operations by TransAlta. In order to meet the requirements of the federal Competition Bureau, TransAlta has also entered into a consent agreement with the Commissioner of Competition pursuant to which TransAlta has agreed to divest Heartland’s Poplar Hill and Rainbow Lake assets following closing of the Transaction. Closing of the Transaction is expected to occur on or before December 4, 2024. In consideration of the Divestitures, TransAlta and ECP have agreed to a purchase price reduction of $80 million for the Transaction. ECP will be entitled to receive the proceeds from the sale of Poplar Hill and Rainbow Lake, net of certain adjustments following completion of the Divestitures. The net cash payment for the Transaction, before working capital adjustments, is estimated at $230 million, and will be funded through a combination of cash on hand and draws on its credit facilities.\n\nPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>\n\n\nSee today’s best-performing stocks on TipRanks >>\n\n\nRead More on TAC:\n\nTransAlta downgraded to Hold from Buy at Desjardins\nTransAlta price target raised to C$16 from C$14 at RBC Capital\nTransAlta price target raised to C$16 from C$15 at National Bank\nTransAlta price target raised to C$18 from C$16 at TD Securities\nTransAlta Corp Reports Q3 2024 Earnings Performance","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483277673"}