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Innergex Renewable Energy to buy Alterra Power in C$1.1 billion deal

Staff Writer |
Innergex Renewable Energ said it will buy rival Alterra Power in a deal valued at C$1.1 billion ($857.83 million) including debt.

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Alterra shareholders will receive C$8.25 per Alterra share, payable in C$2.06 cash and 0.4172 of a common share of Innergex​, the companies said in a joint release.

The deal represents a premium of 62.7 percent to Alterra’s last close of C$5.07 and will add to Innergex’s earnings after the completion of Alterra’s projects under construction, the companies said.

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