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Article: Fortis Inc. Acquires Additional Shares of Caribbean Utilities.
- Article from:
- Marketwire Canada
- Article date:
- July 22, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR, Jul 22, 2009 (Marketwire via COMTEX) -- Fortis Inc. ("Fortis") (TSX:FTS) announced today that it has acquired, through its wholly owned subsidiary Fortis Energy (Bermuda) Ltd., 768,200 Class A Ordinary Shares (the "CUC Shares") of Caribbean Utilities Company, Ltd. ("CUC") (TSX:CUP.U) at a price of US$8.00 per share or approximately CDN$8.78 per share. The 768,200 CUC Shares were acquired by Fortis pursuant to a private agreement dated July 22, 2009.
As a result of this acquisition of CUC Shares, Fortis now indirectly owns 16,757,528 CUC Shares, having increased its beneficial ownership position by approximately 2.7% to ...