Canadian Utilities and Emera Announce Largest Utility Merger in Canadian History
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New informationRepeats or wire copies
What happened
Canadian Utilities and Emera announced a merger of equals, described as the largest merger in Canadian history. The combination is expected to form a Top 20 North American utility with an enterprise value of approximately $72 billion. The combined company will have a rate base of $45 billion and serve six million customers.
Why it matters
The combined company plans to execute a $32 billion capital plan through 2030, supporting an expected average annual rate base growth of 7% to 8%. Executives stated the merger will create the scale and financial strength needed to build networks supporting projects such as data centers and integrated electrical grids.
Who's involved
- Canadian UtilitiesUtility company involved in the merger
- EmeraUtility company involved in the merger
- ATCOLarge holding company that holds a controlling stake in Canadian Utilities
How it developed
Newest first. Tap a step to see who reported it.Canadian Utilities and Emera announce a merger.1 source
Emera is seeking scale amid booming electricity demand as part of the combination with utilities, holding nearly 37 per cent of outstanding shares, with the combined company maintaining headquarters in Halifax.1 source
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The entities involved
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Canadian Utilities
Nothing else this week.
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Emera
publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia