The Sir Robert Bond Papers: Fortis, Gaz Metro in war for Vermont utility

Newfoundland and Labrador-based Fortis (CA: FTS)  isn’t alone in its bid to buy Central Vermont Public Service. The CVPS board announced on June 27 that the company has authorized talks with Gaz Metro on Gaz Metro’s unsolicited acquisition offer.  Gaz Metro is offering $35.25 per share.  That’s slightly better than Fortis offer of $35.10 per ...

The Sir Robert Bond Papers: Fortis fighting two tin-pot bureaucracies

Newfoundland and Labrador based Fortis is seeking compensation for seized electricity production assets seized by two governments half a continent apart. The company is seeking payment for its interest in a Belize electricity company seized this week by the government of that tiny central American country. It is still locked in talks with the Government ...

The Sir Robert Bond Papers: Belize dannys Fortis

Almost three years after Danny Williams’s Conservative administration in Newfoundland and Labrador expropriated Fortis’ electricity assets in the province, the government of Belize has taken a leaf from Williams’ playbook and seized Fortis’ interest in Belize Electric Limited. Fortis held a 70% interest in the company at the time of the seizure. Compensation for the ...

The Sir Robert Bond Papers: Belize wants to buy out Fortis interest in Belize power company

From Fortis: “The Government of Belize (the “Government”) issued a media release on Friday, June 10, 2011 announcing the Government’s interest, “…in purchasing majority shares in BEL so as to assume control of the company.” No purchase proposal has been received by Fortis Inc. (“Fortis” or the “Corporation”) (TSX:FTS). Fortis holds an approximate 70% ownership ...

The Sir Robert Bond Papers: Fortis buys Vermont power utility

Fortis Inc. (FTS-T) announced Monday it will buy Central Vermont Public Service Corporation. CVPS serves 160,000 customers throughout the state. This is the first American purchase for Fortis, a company that owns electricity generation and distribution services in Canada and Belize. The reported price tag for the purchase in US$700 million including $230 million of ...