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BRIEF-AltaGas To Sell Of 35 Pct Of Hydro Electric Facilities For Over $920 Mln

Published 2018-06-13, 08:00 a/m
© Reuters. BRIEF-AltaGas To Sell Of 35 Pct Of Hydro Electric Facilities For Over $920 Mln
ALA
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June 13 (Reuters) - AltaGas Ltd ALA.TO :

* ALTAGAS ANNOUNCES SALE OF 35 PERCENT OF THE NORTHWEST BRITISH COLUMBIA HYDRO ELECTRIC FACILITIES FOR OVER $920 MILLION

* ALTAGAS LTD - SALE OF INTEREST IN FACILITIES IS PART OF LARGER FUNDING STRATEGY RELATED TO ALTAGAS' ACQUISITION OF WGL

* ALTAGAS-ENTERS DEFINITIVE AGREEMENT TO INDIRECTLY SELL 35 PERCENT OF ITS INTEREST IN NORTHWEST BRITISH COLUMBIA HYDRO ELECTRIC FACILITIES FOR $922 MILLION

* ALTAGAS LTD - WILL REMAIN MAJORITY HOLDER OF FACILITIES

* ALTAGAS LTD - ALTAGAS ANTICIPATES THAT THERE WILL BE A "NEGLIGIBLE AMOUNT" OF CURRENT CASH TAXES RESULTING FROM THIS TRANSACTION

* ALTAGAS LTD - PURCHASE PRICE IMPLIES TOTAL VALUE OF OVER $2.6 BILLION ON A 100 PERCENT BASIS FOR FACILITIES

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