Canadian Energy Conglomerate who’s after Barbados Light & Power acquires 10.74% of Shares of ICD Utilities Limited in Grand Bahama
ICD Utilities Limited (ICD – BISX) announced today the closing of the transfer of 1,073,917 common shares (representing 10.74% of its shares) to Halifax based Emera Inc. (EMA – TSX) for $7.40 per share. Emera purchased the ICD Utilities (ICD) shares from MaruEnergy Grand Bahama Limited, an indirect subsidiary of Marubeni TAQA Caribbean Ltd., as part of a transaction announced on December 2nd.
In 2008 Emera Inc. acquired 50 per cent of ICD. Today’s closing increases Emera’s interest in ICDU from 50 to 60 per cent. The remaining 40 per cent of ICD is held by individual shareholders. Emera also now owns majority interest (80.4 per cent) of Grand Bahama Power Limited.