Emera, the Halifax-based parent company of Nova Scotia Power, is set to buy Canadian Utilities Limited, an ATCO owned utility company based in Alberta, in a deal valued around $14.3 billon. Emera calls it the “largest merger in Canadian history,” and will create a “Canadian powerhouse utility” company with six million customers. The company says it will maintain its headquarters in Halifax with Emera CEO Scott Balfour serving as CEO of the combined companies. Canadian Utilities will keep it’s operations headquarters in Calgary and Edmonton. Balfour says the deal will give the company greater financial firepower and the ability to attract more investments as energy demand grows across its expanded footprint, that includes operations in Florida and international markets like Barbados. “This merger creates a Canadian utility and energy infrastructure powerhouse with the scale, financial capacity and expertise to invest in the systems our customers will rely on for decades,” said Balfour in a news release. “As demand rises from electrification trends and major infrastructure development, the combined company will be better positioned to help meet growing energy needs and power Canada’s growth ambitions.” More to come. For more Nova Scotia news, visit our dedicated provincial page
