Emera / TECO
It’s a transformative transaction for Emera Incorporated, according to its long-standing external securities counsel, Osler, Hoskin & Harcourt’s John Macfarlane: Emera, the parent company of Nova Scotia Power, is acquiring Tampa-based TECO Energy Inc. and its subsidiaries, including New Mexico Gas Co., for approximately
$10.4 billion, with the assumption of debt.
The deal was announced on Sept. 4 and will make Emera one of the 20 largest energy utilities in North America, says the company, with more than $20 billion in assets, 56 percent of them now in Florida and 6 percent in New Mexico. The remaining assets are in Canada (23 percent), New England (10 percent) and the Caribbean (5 percent).
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