AltaLink sale to Berkshire Hathaway approved by AUC

Sunday, November 30, 2014

Pincher Creek Voice

Chris Davis

On November 28 the Alberta Utilities Commission (AUC) released their decision to approve the sale of AltaLink to MC Alberta, a unit of Berkshire Hathaway Energy, a multinational conglomerate holding company headquartered in Omaha, Nebraska and led by longtime CEO Warren Buffet.

 According to an AltaLink press release “This is the final of three approvals required for the sale; the other two were received earlier this year from the federal government. We are pleased with the decision of the AUC. We expect the transaction to reach financial close as soon as possible.” Previous to the AUC decision the sale was found to be acceptable by the Competition Bureau of Canada and Industry Canada.  The AUC found that “customers will be at least no worse off after the transaction is completed and that the no harm test has been satisfied”.