Atlantic Power purchases Capital Power Income

Atlantic Power Corp. (NYSE: AT) will acquire all of the outstanding limited partnership units of Capital Power Income L.P. (CPILP) for C$19.40 (US$19.80) per limited partnership unit, payable in cash or shares of Atlantic Power.

The agreed price represents a 4.1 percent premium to the CPILP closing price of C$18.63 (US$19.01) on June 17, 2011 and a 6.8 percent premium to the partnership's volume-weighted average trading price for the 30 days leading up to October 5, 2010, the day CPILP announced it was undertaking a strategic review process.

CPILP will also sell its 52 MW Roxboro cogeneration and 103 MW Southport combined heat and power plants located in North Carolina to a unit of Capital Power Corp. for C$121 million (US$123.5 million) as part of the deal.

Atlantic Power will assume the management of CPILP in exchange for C$10 million (US$10.2 million).

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...