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Article: Canada : Alberta firm buys Heritage Gas.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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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Byline: manish03
AltaGas Utility Group Inc. of Calgary, which owns nearly a quarter of Dartmouth-based Heritage Gas, is buying the rest of the local gas company from SaskEnergy Inc. and Scotia Investments for $109.8 million.
SaskEnergy, which owns a 50.1 per cent stake in Heritage, will get about $73.3 million under the deal and Scotia Investments, which owns 25 per cent, will receive about $36.5 million. Scotia Investments is a private investment holding company in Nova Scotia owned by the Jodrey family.
Patricia Newson, president and CEO of AtlaGas Utility Group, says the move is a good investment for the Alberta-based company.
"We ...