In the latest billion-dollar merger in the North American energy market, Boston-based Atlantic Power announced on Monday that it would acquire all the units of energy fund Capital Power Income L.P. (CPILP) for $1.12 billion in cash and stock, according to the Edmonton Journal.
The deal comes eight months after CPILP put itself on the market after conducting a strategic review of its operations. The deal will allow Atlantic Power to more than double its capacity as an independent power producer and give CPILP’s part owner, Edmonton-based Capital Power Corporation, the ability to pursue projects that better fit into its overall strategy, The Toronto Globe and Mail reports.
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