Domtar closes sale of Ottawa/Gatineau hydro assets
Nov 23, 2012. Domtar Corporation confirmed the closing of its previously announced Definitive Purchase and Sale Agreement signed by its Canadian subsidiary, Domtar Inc., for the sale of its hydro assets in Ottawa, Ontario and Gatineau, Québec. The purchaser is Chaudière Hydro L.P., the newly-created affiliate of Energy Ottawa Inc.
Nov 23, 2012. /Lesprom Network/. Domtar Corporation confirmed the closing of its previously announced Definitive Purchase and Sale Agreement signed by its Canadian subsidiary, Domtar Inc., for the sale of its hydro assets in Ottawa, Ontario and Gatineau, Québec. The purchaser is Chaudière Hydro L.P., the newly-created affiliate of Energy Ottawa Inc., as the company said in the press release received by Lesprom Network.
The approximately C$46 million transaction, after closing adjustments, includes Domtar's three power stations (21 MW of installed capacity), Domtar's water rights in the area, as well as the company's equity stake in the Chaudière Water Power Inc. (CWPI) ring dam consortium. With the closing of the agreement, the 12 workers currently operating the three power stations become employees of Chaudière Hydro.
Domtar Corporation designs, manufactures, markets and distributes a wide variety of fiber-based products including communication papers, specialty and packaging papers and adult incontinence products. The foundation of its business is a network of world class wood fiber converting assets that produce papergrade, fluff and specialty pulps.