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CFIUS Filing Clearance: AES Corp. / Alberta Investment Management Corp. and FTP Power

Status:  Clearance   Acquirer:  AES Corp. (U.S.) and Alberta Investment Management Corp. (Canada) Acquired:  FTP Power LLC (U.S.) Value:  US$853 Million Industry:  Energy   UPDATE: On July 25, 2017, AES and Alberta Investment Management announced that they had completed “the previously announced acquisition of FTP Power LLC d/b/a sPower (‘sPower’) for approximately $853 million in … Continue Reading

Upcoming/New CFIUS Filing: Brookfield Asset Management and TerraForm Power

Status:  Upcoming Filing/New   Acquirer:  Brookfield Asset Management Inc. (Canada) Acquired:  TerraForm Power, Inc. (U.S.) Value:  Approximately US$1.7 billion implied total equity value Industry:  Energy   On March 6, 2017, TerraForm Power, Inc., a Delaware renewable energy company corporation, and Brookfield Asset Management Inc., a global Canadian based asset management firm, announced that Brookfield will … Continue Reading

CFIUS Filing Clearance: Algonquin Power & Utilities Corp. and Empire District Electric Company

Status Update:  Clearance   Acquirer:  Algonquin Power & Utilities Corp. (Canada) Acquired:  Empire District Electric Company (Missouri, U.S.) Value:  Approx. US$2.4 billion Industry:  Energy; Regulated Utilities   UPDATE:  In a recent securities filing by Algonquin Power & Utilities Corp. (Canada), it was reported that, in relation to its acquisition of Missouri based Empire District Electric … Continue Reading

CFIUS Clearance: Enbridge Inc. and Spectra Energy Corp.

Status Update: Clearance   Acquirer: Enbridge Inc. (Canada) Acquired: Spectra Energy Corp. (U.S.) Value: Approx. US$28 billion Industry: Energy; Regulated Utilities   UPDATE: On December 21, 2016, Spectra Energy Corp announced the parties received notice from the Committee on Foreign Investment in the United States (CFIUS) “that it has concluded its review of the proposed combination of … Continue Reading

CFIUS Clearance: Fortis , Inc. and ITC Holdings Corp.

Status:  Clearance   Acquirer: Fortis, Inc. (Canada) Acquired:  ITC Holdings Corp. (U.S.) Value:  US$11.3 billion Industry:  Energy   Fortis announced that on July 8, 2016, the parties received CFIUS clearance with written confirmation from CFIUS that there are no unresolved national security concerns with respect to the transaction and that the action under Section 721 … Continue Reading
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