ENMAX $959 million acquisition of Emera Maine

Overview:

• Canadian utility company ENMAX has acquired electric transmission and distribution company Emera Maine in a $959 million deal. 
• Emera Maine was sold by Nova Scotia-based energy utility company Emera.
• Emera plans on using the proceeds from the sale to lower its corporate debt. 
• RBC Capital Markets acted as exclusive financial adviser for Emera and CIBC Capital Markets acted as exclusive financial adviser for ENMAX. 
• The transaction is expected to close in late 2019. 

Kurt Stumpo - US Editor