AbitibiBowater sells stake in Ontario hydropower assets

AbitibiBowater has signed an agreement for the sale of its 75-percent stake in hydroelectric generating assets in Ontario, Canada, the company reported. 

The forest products firm will get about C$300 million (US303.6 million) for its indirect interest in ACH Limited Partnership, reports indicate.

The buyer is a consortium formed by a major Canadian institutional investor and a private Canadian renewable energy company, AbitibiBowater said.

The agreement values the hydro assets, which have a combined capacity of about 131 MW, at approximately $640 million.

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