AltaGas to sell three gas-fired power plants to P-E firm for $300M

|About: AltaGas Ltd. (ATGFF)|By:, SA News Editor

AltaGas (OTCPK:ATGFF) says it is selling assets including three natural gas-fired power plants in California with combined capacity of 523 MW for ~$300M to P-E firm Avenue Capital.

AltaGas also announces additional sales of non-core midstream and power assets in Canada that pushes total proceeds to $560M.

The sales will help the company repay a chunk of the bridge facility related to its acquisition of WGL Holdings (NYSE:WGL).

AltaGas says it has "announced or completed" $1.5B in asset sales to date and "remains firmly on track to reach the expected total targeted asset sales of at least $2B by fourth quarter 2018."

Subscribe for full text news in your inbox