TransAlta Corp. says it has signed an agreement to acquire the minority stake in TransAlta Renewables Inc. that it does not already own in a deal it says will help simplify its structure and improve its strategic position. A TransAlta wind farm is shown near Pincher Creek, Alta., Wednesday, March 9, 2016. THE CANADIAN PRESS/Jeff McIntosh
TransAlta Corp. says it has signed an agreement to acquire the minority stake in TransAlta Renewables Inc. that it does not already own in a deal it says will help simplify its structure and improve its strategic position. A TransAlta wind farm is shown near Pincher Creek, Alta., Wednesday, March 9, 2016. THE CANADIAN PRESS/Jeff McIntosh
JMCCALGARY - TransAlta Corp. says it has signed an agreement to acquire the minority stake in TransAlta Renewables Inc. that it does not already own in a deal it says will help simplify its structure and improve its strategic position.
The deal would reverse its decision to spin off TransAlta Renewables in 2013.
The power utility says the total consideration to be paid to TransAlta Renewables shareholders for the 40 per cent stake it does not already own is valued at $1.38 billion.
Under the proposal, TransAlta Renewable shareholders will receive 1.0337 common shares of TransAlta or $13 in cash for each share they hold. The number of shares available under the offer is capped at 46.4 million, while the maximum cash available is limited to $800 million.
TransAlta Renewable shares closed at $10.99 on the Toronto Stock Exchange on Monday before the deal was announced.
TransAlta chief executive John Kousinioris says the combined company's greater scale and enhanced positioning will drive benefits and unlock value for shareholders.
This report by ºÃÉ«tvwas first published July 11, 2023.
Companies in this story: (TSX:TA, TSX:RNW)
The ºÃÉ«tv Press. All rights reserved.
For many Indigenous communities, access to financial services and economic opportu…
Trust in international money transfers has long been tied to physical places: a ba…
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Tax: | |
| Today's total: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
