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Ontario Energy Board Denies Hydro One´s Proposed Acquisition of Orillia Power Distribution
Monday 16 April 2018

16 April 2018 - Canadian electricity transmission and distribution provider Hydro One Inc. has received a decision from the Ontario Energy Board denying its proposed acquisition of Orillia Power Distribution Corp. from the city of Orillia, Ontario.

Hydro One is reviewing the decision in detail and will determine the appropriate next steps.
A copy of the decision is available on the OEB's website.

On August 15, 2016, Hydro One announced the agreement to acquire OPDC for CDN 26.35m and the assumption of approximately CDN 14.9m of debt and regulatory liabilities for a total transaction value of CDN 41.3m.

Hydro One is Ontario's largest electricity transmission and distribution provider with more than 1.3m valued customers, over USD 25bn in assets and 2017 annual revenues of nearly USD 6bn.

The company serves suburban, rural and remote communities across Ontario through our 30,000 circuit km of high-voltage transmission and 123,000 circuit km of primary distribution networks.
Date Published: 16/04/2018
Target: Orillia Power Distribution Corp
Country: Canada
Deal Size: 32.73m (USD)
Sector: Utilities
Type: Corporate acquisition
Financing: Cash
Status: Terminated
Vendor: City of Orillia, Ontario
Buyer: Hydro One Inc
Ontario Energy Board denies deal