Consortium to Acquire AbitibiBowater Hydroelectric Assets
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AbitibiBowater, Montreal, Que., Canada, reported this past week that it has agreed to sell its 75% indirect interest in ACH Limited Partnership (ACH) to a consortium formed by a Canadian institutional investor and a private Canadian renewable energy company. ACH was established in April 2007 to hold hydroelectric generating assets in Ontario, Canada, by the company's Abitibi-Consolidated Co. of Canada subsidiary (now AbiBow Canada Inc.).
As part of the transaction, the Caisse de depot et placement du Quebec has agreed to sell its 25% interest in ACH, taking into consideration AbiBow Canada's drag-along right contained in ACH's governing agreements between the Caisse and AbiBow Canada.
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