Toronto Hydro Telecom sale is official
TORONTO, ONTARIO - Toronto Hydro Corporation announced that it has closed the sale of the shares of its wholly-owned subsidiary, Toronto Hydro Telecom Inc., to Cogeco Cable Canada Inc. for $200 million in cash, subject to certain post-closing adjustments.
The Corporation is a holding company which through its wholly-owned subsidiaries:
- Toronto Hydro-Electric System Limited ("LDC") - distributes electricity and engages in Conservation and Demand Management activities; and
- Toronto Hydro Energy Services Inc. - provides street lighting and expressway lighting services, and energy efficiency products and services.
The principal business of the Corporation and its subsidiaries is the distribution of electricity by LDC. LDC owns and operates an electricity distribution system that delivers electricity to approximately 683,000 customers located in the City of Toronto.
Related News
Germany considers U-turn on nuclear phaseout
BERLIN - The German chancellor on Wednesday said it might make sense to extend the lifetime of Germany's three remaining nuclear power plants.
Germany famously decided to stop using atomic energy in 2011, and the last remaining plants were set to close at the end of this year.
However, an increasing number of politicians have been arguing for the postponement of the closures amid energy concerns arising from Russia's invasion of Ukraine. The issue divides members of Scholz's ruling traffic-light coalition.
What did the chancellor say?
Visiting a factory in western Germany, where a vital gas turbine is being stored, Chancellor Olaf Scholz…
