On August 30, 2017, Veresen Inc. ("Veresen") completed a suite of separate agreements to sell its power generation business for $1.18 billion.
The sale involved a series of three transactions to three separate buyers in the respective asset categories of: renewable generating assets in Ontario and British Columbia; gas-fired generating assets in Ontario and waste heat generating assets in British Columbia; and district energy asset facilities located in London, Ontario and Charlottetown, Prince Edward Island.
Veresen, now part of Pembina Pipeline Corporation, is a leading North American energy transportation and service provider based in Calgary, Alberta that operates through four segments – conventional pipelines, oil sands and heavy oil, gas services and midstream.
Osler, Hoskin & Harcourt LLP represented Veresen with a team consisting of Paula Olexiuk (Energy), Jake Sadikman (Commercial), Elliot Smith (Energy), Richard King, Sander Duncanson, and Justin Fontaine (Regulatory), Bob Lehodey, Kevin Lemke, Dana Saric, and Kelsey Armstrong (Corporate), Nathan White (Litigation), Damian Rigolo (Employment and Labour), Shuli Rodal (Competition), Ted Thiessen and Alan Kenigsberg (Taxation), Adrian Hartog and Matthew Ritchie (Real Estate), Natalie Munroe and the Osler Works Transactional team.