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Japan's Toyota Tsusho, JERA to sell Canada's Goreway power station for $289 mln

Published 2019-05-06, 11:35 p/m
Updated 2019-05-06, 11:40 p/m
Japan's Toyota Tsusho, JERA to sell Canada's Goreway power station for $289 mln

TOKYO, May 7 (Reuters) -

* Japan's Toyota Tsusho Corp 8015.T and JERA said on Tuesday they would sell their shares in the Goreway thermal power station in Ontario to Capital Power Corp CPX.TO for a total of about 32 billion yen ($289 million).

* The transaction is expected to be completed in or around June this year, JERA, a fuel purchasing and thermal power generation joint venture of Tokyo Electric Power 9501.T and Chubu Electric Power 9502.T , said in a statement.

* The deal reflected the companies' constant reviews of their assets to optimise their portfolios, spokesmen for JERA and Toyota Tsusho said, adding that the sale would give each company about 16 billion yen.

* The two Japanese companies have invested in the 875 megawatt gas combined cycle thermal power project since 2009 and currently own 50 percent stake each in the project. ($1 = 110.7200 yen)

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