CALGARY, Alberta - TransAlta Corporation (TSE:TA; NYSE:TAC) announced today it has received approval from the Alberta Energy and Utilities Board (AEUB) for the sale of the majority of its regulated Alberta transmission business to AltaLink. TransAlta will continue to own a small amount of regulated transmission facilities within the province.

The previously announced transaction, anticipated to close April 30 after all conditions have been satisfied, is expected to generate proceeds of about $850 million, for an after-tax gain of approximately $100 million ($0.59 per share). Proceeds will be redeployed into TransAlta's core business of electricity generation and marketing.

"We are pleased with the result and the timely AEUB decision," said Steve Snyder, president and CEO. "Completing the sale allows us to focus on our strategic direction and accelerate the growth of our generation and energy marketing businesses."