Western Canadian Firm To Buy Emera Maine

In a press release today, Emera Inc. stated that they have come to a definitive agreement to sell their interest in Emera Maine to ENMAX Corp for $959 Million.

Bangor Daily News reports that Emera Inc. says that they have come to an agreement with the Canadian company, who distributes and generates electricity to customers in the province of Alberta, about the sale.

A recent financial press release showed that Emera's parent company said that they are planning to sell assets that are not performing well.

On November 26, 2018, Emera made the announcement that they plan to sell its three natural gas plants in New England, to include Rumford Power, to an affiliate of The Carlyle Group, who is an asset management company.

The transaction is scheduled to close within the first quarter of 2019.