Power buy for Fort Chicago

Article Excerpt

FORT CHICAGO ENERGY PARTNERS L.P. $11.65 (Toronto symbol FCE.UN; Units outstanding: 144.6 million; Market cap: $1.7 billion; SI Rating: Extra Risk; Dividend yield: 8.6%) is buying Pristine Power Inc. for $314 million. Pristine Power’s assets include 50% of York Energy Centre, a 400-megawatt natural-gas-fired generating plant north of Toronto that is expected to start up in 2012; 25% of the East Windsor Cogeneration Centre, an 85-megawatt natural-gas-cogeneration facility located next to a Ford Motor Company engine plant; and 75% of two energy-recovery plants at the Savona and 150 Mile House compressor stations on the Spectra Energy pipeline in B.C. The purchase will let Fort Chicago further diversify beyond its core business of owning and operating energy pipelines and processing plants across North America. Fort Chicago is still a buy. buy…

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