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Hydro One buys Great Lakes Transmission in 373million deal

TORONTO — Ontario’s newly privatized Hydro One electric utility has a $373-million deal to buy Great Lakes Power Transmission, which operates north and east of Sault Ste. Marie, Ont.Hydro One says it will acquire Great Lakes Transmission from various entities controlled by Brookfield Infrastructure, which is part of a Toronto-based asset management group.Hydro One’s ‘showcase’ IPO offered investors a slice of stability in uncertain timesAnalysts weigh in on Hydro One: Four holds, four buys and $22-$26 targetThe former provincial Crown corporation will pay $222 million in cash and assume $151 million of outstanding debt owed by Great Lakes, which has 15 transmission stations and 560 kilometres of transmission lines.Once the deal closes, Hydro One will operate about 98 per cent of Ontario’s transmission capacity.

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