Calgary-based TransAlta Utilities Corporation completed the sale and leaseback of its downtown Calgary head office facility, to Toronto-based Forum Leasehold Partners Inc. for $66 million. The deal closed on May 9, 2003. The financing was provided by Canadian and U.S. life insurance companies.
Burnet, Duckworth & Palmer LLP acted for TransAlta, with a team led by Robert Homme, Q.C., and including Craig Hill and Denise McMullen (taxation), Alicia Quesnel (competition) and Shawn Belecki.
Forum was represented by Aird & Berlis LLP, as lead counsel, with a team led by Michael Smith and including Barbara Worndl (taxation) and Bill VanderBurgh and Glenn Kennedy (competition), and in Alberta by Witten LLP with a team led by James Nesbitt, Q.C., and including Earl Parker and Audrey Wakeling.
Elizabeth Majers and James Inendino of McDermot, Will & Emery in Chicago, acted as lead U.S. counsel to the lenders. In Alberta, the lenders were represented by Gowling Lafleur Henderson LLP with a team led by Kevin Keyes, and including Garth Anderson and Rick Myers.