TransAlta to Acquire Heartland Generation from Energy Capital Partners at a Reduced Price of $542 Million
TransAlta Corporation Ordinary Shares (TAC)
Last transalta corporation ordinary shares earnings: 3/4 07:00 am
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Source: GlobeNewswire
CALGARY, Alberta, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Highlights TransAlta and ECP have agreed to an $80 million purchase price reduction to reflect two required asset divestitures representing 97 MW (net ownership)Transaction revalued at approximately $542 million, inclusive of the assumption of $232 million of low-cost debt, and subject to a further favourable economic adjustment of approximately $80 million, reflecting the economic benefit of the Heartland business arising since the effective date of the transaction of October 31, 2023, prior to working capital adjustmentsHeartland portfolio valued at a net price of approximately $270 per kilowatt, with an expected EBITDA multiple1 of approximately 5.4 timesHighly accretive to free cash flow, with an attractive cash yield upon closing underpinned by approximately 60% of revenues contracted with a weighted-average remaining life of 15 yearsCorporate pre-tax synergies of approximately $20 million per annumTransaction to add 1,747
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News
- TransAlta (TSX:TA) Eyes Growth with New Product Launches and Technological Innovations Despite Challenges [Yahoo! Finance]Yahoo! Finance
- TransAlta reaches deal with Competition Bureau to address Heartland deal concerns [BNN Bloomberg (Canada)]BNN Bloomberg
- TransAlta reaches deal with Competition Bureau to address Heartland deal concerns [Yahoo! Finance Canada]Yahoo! Finance Canada
- TransAlta reaches deal with Competition Bureau to address Heartland deal concerns [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Competition Bureau reaches agreement with TransAlta to preserve competition in wholesale electricity supply in Alberta [Yahoo! Finance]Yahoo! Finance
TAC
Earnings
- 11/5/24 - Beat
TAC
Sec Filings
- 11/14/24 - Form 6-K
- 11/5/24 - Form 6-K
- 11/5/24 - Form 6-K
- TAC's page on the SEC website