ENMAX Corporation confirms the proposed acquisition of Cordero for approximately $218 million, including the assumption of debt.

“This secures long-term natural gas supply for the Calgary Energy Centre, with which we entered into a 20-year tolling agreement, effective last year,” said Gary Holden, President and CEO of ENMAX. “This will help supply competitively priced natural gas and electricity to ENMAX Energy’s rapidly growing customer base and is consistent with our long-term vertical integration strategy.”

Peters & Co. Limited acted as financial advisor to ENMAX and Tristone Capital Inc. acted as financial advisor to Cordero on the transaction.

Tags: Cordero Energy inc., ENMAX Corporation