On December 6, 2007, Cheung Kong Infrastructure Holdings Limited (“CKI”) completed the acquisition of TransAlta Power, L.P. (“TransAlta Power”) for an approximate cost of $629 million, excluding debt. CKI is the largest publicly listed infrastructure company in Hong Kong with diversified investments in energy, transportation and water infrastructure as well as infrastructure-related business operating in Hong Kong, mainland China, Australia, the United Kingdom, Canada and the Philippines.
TransAlta Power is a 49.99 per cent owner of TransAlta Cogeneration, L.P., which owns interests in five gas-fired cogeneration facilities in Ontario, Alberta and Saskatchewan, and in a coal-fired, mine-mouth facility in Alberta. TransAlta Corporation owns the remaining 50.01 per cent interest in TransAlta Cogeneration, L.P.
TransAlta Corporation was represented in-house by Senior Legal Counsel Katherine Camarta, and by Burnet, Duckworth & Palmer LLP with a team that included Steve Cohen, Grant Zawalsky and Lindsay Cox (securities) and Bill Winters and David Maxwell (commercial).
CKI was represented by Stikeman Elliott LLP with a team that included Glenn Cameron, Chris Nixon, Charlotte Feasby and Kristi Kasper (M&A); Brian Hansen (structuring), Leland Corbett and Mark Christensen (banking); Mike Styczen, Lisa McDowell, Kerri Howard and Benjamin Hudy (corporate); Michael Dyck (real estate, banking); Ryan Smith (real estate); Cairns Price (regulatory); Paul Collins and Michael Kilby (competition, Investment Canada); and Ron Durand and Shashi Malik (tax).
The Special Committee of the general partner of TransAlta Power, TransAlta Power Ltd., was represented by Macleod Dixon LLP with a team that included Robert Engbloom, Justin Ferrara, Chris Wolfenberg and Stephen Cooper(M&A); Craig Maurice (tax) and Rujuta Patel (competition, Investment Canada)