Berkshire energy arm to buy SNC’s AltaLink for $3.24B


Berkshire Hathaway (BRK.A, BRK.B) agrees to acquire SNC-Lavalin's (SNCAF) AltaLink, the operator of electric transmission lines in Canada, for $3.24B, as Warren Buffett’s company expands its investment in energy.

Buffett’s power unit, renamed just this week as Berkshire Hathaway Energy, has been expanding through acquisitions under CEO Greg Abel; SNC is moving away from infrastructure investments to put resources into engineering and construction.

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Comments (2)
  • Seth Walters
    , contributor
    Comments (675) | Send Message
     
    Betting that electricity use will grow over time is probably one of the safest and most boring bets you could make.
    2 May 2014, 12:43 AM Reply Like
  • Artofgolf
    , contributor
    Comments (28) | Send Message
     
    Berkshire shareholders like boring (while ringing the cash-register) businesses where the revenues are predictable well into the future. I hope he buys more of the so-called "boring" businesses as they become available.
    13 May 2014, 08:58 PM Reply Like
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