Business
DII and ATCO Complete Landmark Deal Establishing 50/50 Ownership Agreement in Northland Utilities
DII and ATCO Complete Landmark Deal Establishing 50/50 Ownership Agreement in Northland U...
About this update from Atco Ltd. Class I
[{"type":"text","content":"\n \n \n \n DII and ATCO Complete Landmark Deal Establishing 50/50 Ownership Agreement in Northland Utilities\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n YELLOWKNIFE, NT\n \n ,\n \n \n June 27, 2022\n \n \n /CNW/ - Denendeh Investments Incorporated (DII) and ATCO Ltd. are formally recognizing their equal 50/50 ownership of Northland Utilities.  Long-standing partners for the past 35 years, the two companies recently completed an agreement to increase DII's ownership stake in Northland Utilities from 14 to 50 per cent. Today representatives from both partners are together in\n \n Yellowknife\n \n to celebrate the enhanced partnership and the desire to share in the economic benefits and developments in the communities we serve.\n \n \n \n \n \n \n \n \n \n \"Indigenous participation in the energy sector is part of the solutions needed in the\n \n Northwest Territories\n \n . Our increased equity position in Northland Utilities is just one example, there are many others in the north where Indigenous communities are investing in their own energy infrastructure,\" said\n \n Darrell Beaulieu\n \n , CEO of DII.  \"ATCO is an industry leader with extensive power development expertise and is implementing capacity for Indigenous business interests.  Northland Utilities has been a shining example of how we can grow with a true business partnership.\"\n \n \n \"The journey towards Reconciliation starts with a single step forward. We began our journey with DII decades ago, and our partnership has stood the test of time,\" said\n \n Nancy Southern\n \n , Chair & Chief Executive Officer, ATCO. \"This agreement has been years in the making, and I am incredibly honored to welcome DII as an equal shareholder in Northland Utilities, and hope that in leading by example, we will inspire a new standard for governments and industry that supports economic reconciliation, inclusive opportunity, and truly equitable partnerships for Indigenous communities.\"\n \n \n DII first partnered with ATCO in 1987, acquiring a 14 p...