Emera Kanada Enerji Şebekesi İçin Dev Bir Birleşmeyle Büyümeyi Hedefliyor

Kısaca

Birleşme değer olarak yaklaşık 72 milyar CAD kurulu değeriyle Kanada kökenli en büyük birleşmelerden biri olarak kayda geçti; Emira 14,3 milyar CAD karşılığında Canadian Utilities'ın hisselerini alacak. Yeni yapı Kanada, ABD ve uluslararası pazarlarda yaklaşık 6 milyon müşteriye hizmet verecek ve 12 regüleli altyapı şirketine sahip olacak. 2030’a kadar CAD 32 milyar yatırım hedefiyle yıllık kapasite artışını yüzde 7-8 aralığında hedefliyor ve ATCO Ltd’nin yapısında değişiklik öngörülüyor.

Ana mesele

Emera ile Canadian Utilities arasındaki birleşme, başlangıçta 50 milyar dolar değerine yaklaşan bir büyüme hedefi doğuruyor

Ne değişti?

main_issue ile farklı bilgi: birleşme sonrası pay sahipliği dağılımı ve yeni şirket yapısı

Beni nasıl etkiler?

Kamu ve yatırımcılar için ölçek büyümesiyle enerji altyapı projelerine finansman artışı öngörülüyor

Ne oldu?

Emera, Canadian Utilities’ı yaklaşık CAD 14,3 milyar karşılığında devralacak ve birleşme toplam değerinin CAD 72 milyar civarında olduğu belirtiliyor

Neden şimdi?

Enerji altyapısına yönelik büyük ölçekli yatırımlar ve büyüme ihtiyacı nedeniyle şimdi harekete geçildi

Neden önemli?

Küresel ölçekte enerji altyapı kapasitesinin artması, Kanada ve ABD'de enerji güvenliği ve büyüme potansiyeli üzerinde etkili olur

Kimler etkileniyor?

• Emera hissedarları
• Canadian Utilities hissedarları
• Regülasyon otoriteleri
• Müşteriler (6 milyon)

Sektör ve piyasa etkisi

Enerji altyapı pazarında ölçek büyümesi nedeniyle rekabet dinamikleri değişebilir

Riskler

• Piyasa dalgalanmaları
• Regülasyon onay süreçlerinde ertemeler

Takip edilmesi gerekenler

• Onay süreçlerinin sonuçlanması
• Enflasyon ve faiz etkilerinin yatırım planlarına yansıması
• Ortaklık yapısındaki yönetim değişiklerinin operasyonlara etkisi

Haberin tamamı

<p>Emera Inc and Canadian Utilities Ltd have entered into what they say is the largest merger between two Canadian companies, based on an enterprise value of around CAD 72 billion (about $50.47 billion).</p> <p>Emera will acquire Canadian Utilities' shares for approximately CAD 14.3 billion (around $10.02 billion).

About 60 percent of the enlarged Emera will be owned by existing Emera shareholders and about 40 percent by Canadian Utilities shareholders.</p> <p>The resulting entity will have 12 regulated utilities, around CAD 45 billion of rate base and about six million customers across Canada, the United States and international markets.</p> <p>The new company is expected to invest CAD 32 billion through 2030, targeting an annual rate base increase of seven to eight percent.</p> <p>As part of the transaction, Canadian Utilities' parent, ATCO Ltd, will spin off into a new publicly-traded industrial services company spanning housing, defense and investments, including ports and retail energy.</p> <p>The combination will create "a Canadian utility and energy infrastructure powerhouse with the scale to help power Canada's growth ambitions, while continuing to invest in and grow its operations across its jurisdictions, including in the high growth markets of Alberta and Florida", a joint statement said.</p> <p>Emera will remain headquartered in Halifax and will keep its Tampa base for its U.S.

operations.

Canadian Utilities will remain based in Calgary and Edmonton, as well as keep its presence in Perth, Australia.</p><div id='newsArticleDianomoAds' style='display:none'><hr style='margin:5px 0px;'><div style='color:#808080;text-align: center;'>Advertisement - Scroll to continue</div><div class='dianomi_context' data-dianomi-context-id='4460'></div></div> <p>"This increased scale will position the company to support a range of capital-intensive priorities, electrification projects, major natural gas and electric transmission investments, large load customers, export infrastructure and other large-scale energy infrastructure projects", the parties added.</p> <p>"The combination of Emera, with approximately 70 percent of earnings from operations in Florida, and Canadian Utilities with approximately 80 percent from operations in Alberta, creates a company with approximately 95 percent of earnings from regulated utilities and approximately 80 percent of earnings generated in Florida and Alberta, two of the highest growth jurisdictions in North America", the statement said.</p> <p>Canadian Utilities' Class A shareholders other than ATCO will receive 0.755 Emera common shares for each Canadian Utilities Class A share.

Canadian Utilities' Class B shareholders other than ATCO will receive 0.819 Emera common shares for each Canadian Utilities Class B share.</p> <p>ATCO Class 1 and Class 2 shareholders will receive 0.865 Emera common shares for each Class 1 or Class 2 share.

ATCO's Class 2 stock is held by Sentgraf Enterprises Ltd.</p> <p>ATCO shareholders will also receive one Class 1 share in the spin-off, called New ATCO, for each ATCO Class 1 share and Sentgraf will receive one New ATCO Class 2 share for each ATCO Class 2 share.</p> <p>"ATCO shareowners will participate in two focused and compelling companies.

The combined Emera/Canadian Utilities company will have the scale, capabilities and capital to invest in critical energy and infrastructure projects that support growing demand, while New ATCO will be positioned to accelerate growth in housing, defense and industrial services", said ATCO chair and chief executive Nancy Southern.</p> <p>"Together, these companies are expected to be better equipped to pursue opportunities created by economic growth, infrastructure expansion and increasing focus on security and resilience, creating long-term value for shareowners and Canadians alike".</p> <p>Scott Balfour will remain president and chief executive of the enlarged Emera.

The board of the enlarged company will have seven directors appointed by Emera and six by Canadian Utilities.

Southern will serve as board co-chair alongside current Emera board chair Karen Sheriff.</p> <p>"Key members of the current Canadian Utilities leadership team will join the Emera executive team including Bob Myles as chief executive officer of Canadian Utilities and Becky Penrice as executive vice president, Corporate Transformation and Integration", the statement said.</p> <p>"Leadership of the companies' operating businesses will remain unchanged".</p> <p>At New ATCO, which will remain headquartered in Calgary, Southern will be chair and CEO.</p> <p>Sentgraf has irrevocably agreed to vote its ATCO shares in favor of the transaction and against any competing acquisition offers.</p> <p>ATCO also agreed to vote its Canadian Utilities shares in favor of the transaction and against any competing acquisition proposals.</p> <p>All Emera, ATCO and Canadian Utilities directors and executive officers also agreed to vote up the transaction.</p> <p>The parties expect to complete the transaction by yearend 2027, subject to regulatory, court and stock exchange approvals in Canada, the U.S.

and Australia.</p> <p><em>To contact the author, email jov.onsat@rigzone.com</em></p>

Kaynaklar

• Rigzone