AIMCo purchases $200M common shares of TransAlta Renewables Inc. from TransAlta Corporation

On November 26, 2015, Alberta Investment Management Corporation (AIMCo), one of Canada’s largest and most diversified institutional investment managers with more than $85 billion of assets under management, purchased a $200 million stake in TransAlta Renewables Inc. from TransAlta Corporation. AIMCo operates at arm’s length from the provincial government, which previously announced it would phase out coal-fired electricity generation. TransAlta Corporation will continue to be the largest investor in TransAlta Renewables Inc., with AIMCo the second largest investor. 

Dentons Canada LLP advised AIMCo with a team led by Colleen Cebuliak and Craig McDougall (corporate securities/private equity). 

Norton Rose Fulbright Canada LLP advised TransAlta Corporation with a team that was led by Justin Ferrara which included Justin Pettigrew and Anna Wingfield.