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TransAlta Corporation Announces Closing of the Acquisition of TransAlta Renewables Inc. and Final Pro Ration
TransAlta Corporation Announces Closing of the Acquisition of TransAlta Renewables Inc. and Final...
About this update from Transalta Corporation
[{"type":"text","content":"\n \n \n \n TransAlta Corporation Announces Closing of the Acquisition of TransAlta Renewables Inc. and Final Pro Ration\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 \n CALGARY, AB\n \n \n ,\n \n \n Oct. 5, 2023\n \n \n /CNW/ - TransAlta Corporation (\"TransAlta\" or the \"Company\") (TSX: TA) (NYSE: TAC) and TransAlta Renewables Inc. (\"RNW\") (TSX: RNW) are pleased to announce the completion of the acquisition of RNW by TransAlta pursuant to the terms of the previously announced arrangement agreement between the parties (the \"Arrangement\"). Under the Arrangement, TransAlta acquired all of the outstanding common shares of RNW (each, a \"RNW Share\") not already owned, directly or indirectly, by TransAlta and certain of its affiliates, resulting in RNW becoming a wholly owned subsidiary of TransAlta.\n \n \n \"The closing of the acquisition of TransAlta Renewables represents a key milestone for TransAlta with our simplified and unified corporate structure positioning the Company well for future success,\" said\n \n John Kousinioris\n \n , President and Chief Executive Officer of TransAlta. \"The combined company will unify our assets, capital, and capabilities to enhance cash flow predictability while enhancing our ability to realize future growth.\"\n \n \n The RNW Shares will be delisted from the Toronto Stock Exchange and RNW will submit an application to cease to be a reporting issuer in each of the provinces of\n \n Canada\n \n under National Policy 11-206\n \n Process for Cease to be a Reporting Issuer Applications\n \n promptly upon the delisting of the RNW Shares. Common shares of TransAlta (the \"TransAlta Shares\") will continue to trade on both the New York Stock Exchange and the Toronto Stock Exchange under the symbols \"TAC\" and \"TA\", respectively.\n \n \n As a result of the Arrangement, certain RNW directors have resigned, and TransAlta has appointed two of its employees to serve on the board of directors of RNW.\n \n \n \n Results of RNW Shareholders Election\n \n \n \n Prior to the Arrangement, TransAlt...