Under the deal, Enmax will pay $1.29 billion plus assume roughly $500 million in debt. The companies value the total deal at $1.3 billion US, including debt. Emera has been selling off its assets, including its New England Gas Generation portfolio sold last November, to pay down debt. It says it has met its target, after raising $2.1 billion Cdn from the sale of assets. It bought the Maine Public Service Company in 2010 and merged the operations to form Emera Maine, based in Bangor, which serves 159,000 customers in the northern part of the state.

Source: CBC News March 25, 2019 15:45 UTC