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UIL expects to complete sale of Ascendant in mid-November
StockMarketWire.com
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Investment company UIL said it expected its sale of Bermuda power company Ascendant to be completed in mid-November, now that all the remaining conditions of the deal had been met.
Ascendant owned Bermuda Electricity Light Company, Bermuda's sole electricity provider, and a number of other non-regulated energy related companies.
It was being sold to Algonquin Power & Utilities Corp, with UIL expected to receive an aggregate cash consideration of about $37.6 million (£29.1 million).
At 2:26pm: (LON:UTL) Utilico Investments Limited share price was +2.5p at 162.5p
Story provided by StockMarketWire.com
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