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ATCO Ltd. is consolidating its generation assets under one subsidiary to streamline ownership structure and cut administrative costs, the energy, utilities and structures said recently.
The company's board of directors approved the transfer of ATCO's wholly owned subsidiary ATCO Resources to ATCO Power, a wholly owned subsidiary of Canadian Utilities Limited.
Both subsidiaries have interests in a total of 10 generation plants in Canada, with ATCO Resources valued at $82.5 million, net of existing debt.
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