A PYMNTS Company

Canada: Warren Buffett subsidiary buys top electricity firm

By  |  May 4, 2014

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.

Full content: Canadian Manufacturing

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.