Canadian pulp and paper manufacturer, AbitibiBowater, will sell its 75% stake in Ontario hydroelectric project, ACH. The Montreal-based company will receive around $304.4 million from a consortium formed by a Canadian institutional investor and a private renewable energy company.
As part of the deal, the Caisse de dépôt et placement du Québec will also sell its 25% interest in ACH. AbitibiBowater appointed CIBC World Markets as financial advisor in the deal.
Click here for the release from PR Newswire.