AbitibiBowater is selling off 75-per cent of its interest in its hydro assets in Ontario. This includes the hydro dam in Fort Frances, Iroquois Falls, and Kenora. The deal with an unnamed Canadian institutional investor and a private Canadian renewable energy company is worth 300-million dollars. Part of the proceeds will be used to pay down the company's debt.Wednesday, February 16, 2011
AbitibiBowater is selling off Hydro assets
AbitibiBowater is selling off 75-per cent of its interest in its hydro assets in Ontario. This includes the hydro dam in Fort Frances, Iroquois Falls, and Kenora. The deal with an unnamed Canadian institutional investor and a private Canadian renewable energy company is worth 300-million dollars. Part of the proceeds will be used to pay down the company's debt.