PSP Investments, ATRF finalize acquisition of AltaGas Canada

AltaGas Canada Inc. (ACI), the Public Sector Pension Investment Board (PSP Investments) and the Alberta Teachers' Retirement Fund Board (ATRF) have completed the acquisition of all of the 30,000,000 common shares of ACI by PSPIB Cycle Investments Inc., a wholly-owned subsidiary of TriSummit Cycle Holding Inc., in an all-cash transaction pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act. The purchaser acquired each Common Share for CAD33.50 (US$23.7), for a total consideration of CAD1.005 billion (US$709.8 million).

In connection with the completion of the Arrangement, ACI's name will be changed to TriSummit Utilities Inc.

TriSummit Utilities Inc. will remain incorporated under the CBCA, with its headquarters located in Calgary, Alberta.