Jan 29 (Reuters) - Hydro One Ltd H.TO , Ontario's largest
electric utility said it will buy an electricity transmission
business from Brookfield Infrastructure for C$222 million
($158.87 million).
Upon deal completion, Hydro One will operate about 98
percent of Ontario's transmission capacity.
The Great Lakes Transmission business has a rate base of
about C$219 million and consists of 15 transmission stations.
Rate base is the value of property on which a utility is
allowed to earn a specified profit.
The deal also includes C$151 million in debt, Hydro One
said.
Hydro One began trading on the Toronto Stock Exchange in
November after its initial public offering, one of the largest
in Canadian history.
Hydro One's shares were mostly flat at C$22.45 in morning
trade on the Toronto Stock Exchange.
($1 = 1.3974 Canadian dollars)