May 31 (Reuters) - TransAlta Renewables Inc RNW.TO :
* TRANSALTA RENEWABLES ANNOUNCES THE ACQUISITION OF THREE RENEWABLE ASSETS FROM TRANSALTA CORPORATION, IMPLEMENTATION OF A DIVIDEND REINVESTMENT PLAN AND DECLARES DIVIDENDS
* TRANSALTA RENEWABLES INC - TOTAL PURCHASE PRICE FOR THREE ASSETS IS $166 MILLION
* TRANSALTA RENEWABLES INC - WILL FUND EQUITY VALUE PORTION OF ACQUISITION USING EXISTING LIQUIDITY
* TRANSALTA RENEWABLES INC - EQUITY VALUE OF $104 MILLION REPRESENTS A 10X MULTIPLE OF CAFD AND IS EXPECTED TO BE ACCRETIVE ON A PER SHARE BASIS
* TRANSALTA RENEWABLES INC - CO'S BOARD APPROVED IMPLEMENTATION OF A DIVIDEND REINVESTMENT PLAN FOR CANADIAN HOLDERS OF TRANSALTA RENEWABLES