Toronto Hydro Corporation

Toronto Hydro Corporation

July 31, 2008 15:37 ET

Toronto Hydro Corporation Announces the Closing of the Sale of Toronto Hydro Telecom Inc.

TORONTO, ONTARIO--(Marketwire - July 31, 2008) - Toronto Hydro Corporation announced today that it has closed the sale of the shares of its wholly-owned subsidiary, Toronto Hydro Telecom Inc. ("THTI"), to Cogeco Cable Canada Inc. ("Cogeco Cable") (TSX:CCA) for $200 million in cash, subject to certain post-closing adjustments.

About Toronto Hydro Corporation

The Corporation is a holding company which through its wholly-owned subsidiaries:

- Toronto Hydro-Electric System Limited ("LDC") - distributes electricity and engages in Conservation and Demand Management activities; and

- Toronto Hydro Energy Services Inc. - provides street lighting and expressway lighting services, and energy efficiency products and services.

The principal business of the Corporation and its subsidiaries is the distribution of electricity by LDC. LDC owns and operates an electricity distribution system that delivers electricity to approximately 683,000 customers located in the City of Toronto.

Forward-Looking Information

Certain portions of this press release may constitute forward-looking information. Forward-looking information means disclosure regarding possible events, conditions or results that is based on assumptions about future economic conditions and courses of action or attributable to third parties. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "anticipate", "believe", "estimate", "predict", "potential", "continue", "plan" and similar expressions or the negative of these terms or other comparable terminology. Although the corporation believes that it has a reasonable basis for the forward-looking information included in the press release, such information is subject to a number of risks, uncertainties and assumptions that may cause actual events, conditions or results to differ materially from those contemplated by the forward-looking information. Some of the factors that could cause such differences include legislative or regulatory developments; financial market conditions, general economic conditions and the ratings assigned to the corporation or its affiliates or their debt securities by rating agencies. The corporation has no obligation nor any intention to update publicly or to revise any of the forward-looking information included in the press release after the date thereof, whether as a result of new information, future events or circumstances or otherwise.

Contact Information

  • For more information or to arrange an interview, please
    contact: Toronto Hydro Corporation
    Blair Peberdy, Vice-President, Marketing, Communications and
    Public Affairs and Chief Conservation Officer
    (416) 542-2515
    Toronto Hydro Corporation
    Pankaj Sardana
    VP, Treasurer and Regulatory Affairs
    (416) 542-2707