Acquisition of TransAlta Power, L.P. by Cheung Kong Infrastructure Holdings Limited

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)


William H. (Bill) Winters Ryan G. Smith Mark Christensen David C. Maxwell Charlotte Feasby Lindsay P. Cox Glenn Cameron Lisa A. McDowell Leland P. Corbett Michael Kilby Cairns E. Price Rujuta Patel Christopher M. Wolfenberg Justin E. Ferrara Christopher W. Nixon Kerri L. Howard Shashi B. Malik Kristi M. Kasper Ron Durand Michael Dyck Brian G. Hansen Stephen M. Cooper Michael J. Styczen Grant A. Zawalsky Paul Collins