Enmax finalizes acquisition of Emera Maine

ENMAX Corporation (ENMAX) has closed the transaction to purchase Emera Maine for CAD1,286 million (US$906.8 million) from Emera Inc. Including the assumed debt, aggregate enterprise value is US$1.3 billion USD on closing. Emera Maine is a regulated electricity transmission and distribution utility in the state of Maine, servicing more than 159,000 customers.

Emera Maine will continue to operate as a stand-alone utility headquartered in Bangor and will operate under a new name to be announced in the future.