Business
Emera Incorporated and Algonquin Power & Utilities Corp. Announce Closing of California Pacific Electric Company Transaction
Jan. 1, 2011 (Canada NewsWire Group) -- HALIFAX AND OAKVILLE, Jan. 1 /CNW/ - (EMA-TSX, AQN-TS...
About this update from Emera Incorporated
[{"type":"text","content":"\n\n\n\n Jan. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nHALIFAX AND OAKVILLE, Jan. 1 /CNW/ - (EMA-TSX, AQN-TSX): Emera\n Incorporated ("Emera") and Algonquin Power & Utilities Corp. ("APUC")\n announced that effective today they are closing their acquisition of\n the California-based electricity distribution and related generation\n assets of NV Energy, Inc..  Total consideration for this transaction is\n $131,789,563 USD, subject to final adjustments. Emera and APUC own and\n operate these assets through a newly formed utility company, California\n Pacific Electric Company, LLC. Also, as an element of the transaction,\n Emera has now exchanged certain previously announced subscription\n receipts into 8.523 million APUC common shares.\n\n\nForward-looking information \nSecurities regulators encourage companies to disclose forward-looking\n information to help investors understand a company's future prospects.\n This press release contains statements about our future financial\n condition, results of operations and business.\n\n\nThese are "forward-looking" because we have used what we know and expect\n today to make a statement about the future. Forward-looking statements\n usually include words such as may, expect, anticipate, believe or other similar words. We believe the expectations reflected in these\n forward-looking statements are reasonable. However, actual events and\n results could be substantially different because of the r...