A subsidiary of Warren Buffett has acquired one of the largest regulated energy transmission firms in Canada, according to reports.
AltaLink will be bought by Berkshire Hathaway Energy in a deal worth nearly $3 billion. Reports say the companies expect to close the dal by the end of the year.
The Montreal-based firm, a subsidiary of Buffett’s Berkshire Hathaway, will acquire the assets from AltaLink’s current owner, SNC-Lavalin.
The deal remains subject to approval from various regulators, including the Alberta Utilities Commission.
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