Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, September 21, 2018

Article Excerpt

ALTAGAS LTD., $22.35, symbol ALA on Toronto, processes, transports, stores and markets natural gas for producers. The company also operates natural gas utilities; and it is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. On September 13, 2018, AltaGas announced it plans to bundle some of its Canadian utility and renewable energy assets to create a separate company. It will then sell shares in the new firm through an initial public offering (IPO). This could raise as much as $1 billion for AltaGas. Once the IPO is completed, the company will own between 37% and 45% of the new firm. It will be called AltaGas Canada Inc., symbol ACI on Toronto. That new firm will hold the company’s Canadian rate-regulated natural gas distribution utility assets and its contracted wind power assets in this country. In addition, it will hold roughly 10% interest in the Northwest Hydro Facilities in B.C. AltaGas also recently signed deals to sell about $560 million worth of…

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