Fortis Acquires 100 Percent Interest in Cornwall Electric

On October 17, 2002, Fortis Inc. acquired from Enbridge Energy Distribution Inc. (formerly Enbridge Consumers Energy Inc.) its 100 per cent interest in Ontario-based Cornwall Street Railway Light and Power Company Limited (Cornwall Electric) for an aggregate cash purchase price of $67 million. Fortis is a diversified electric utility holding company with assets exceeding $1.6 billion and annual sales of more than $628 million.

Fortis was represented by Gowling Lafleur Henderson LLP, with a team comprised of Paul Harricks, Bob Milnes, Noreen Flaherty and Faithe Holder (corporate), Alan Dean (real estate), Tom Brett and Jim Fisher (regulatory), Bruce Graham and Ian Macdonald (competition), Katherine van Rensburg (environmental), Dan Hayhurst (pensions/benefits), Tim Wach (tax) and Allen Craig (labour).

Gowlings worked with in-house counsel Ron McCabe, Fortis, and in-house counsel Peter Alteen of Fortis’s subsidiary, Newfoundland Power Inc.

Enbridge was represented by Fraser Milner Casgrain LLP, with a team comprised of Don Macintosh, Ted Shoub and Caroline Wang (corporate), Jillian Shortt, Jeremy Johnston and Scott Burke (real estate), Susan Paul (competition), Paul Shantz (environmental), Mark Rowbotham (pension), Christopher Steeves (tax) and Lisa Goodfellow (labour). FMC worked with in-house counsel Mark Boyce, Enbridge.