City of Mississauga

City of Mississauga

May 07, 2008 15:56 ET

City of Mississauga Engages Financial Advisor to Explore Enersource Options

MISSISSAUGA, ONTARIO--(Marketwire - May 7, 2008) - Mississauga City Council passed a resolution today approving Credit Suisse Securities (Canada) Inc. to review the City's financial interest in Enersource Corporation and provide advice on its value and the financial options available to the City.

"We are expecting that Credit Suisse will conduct a thorough valuation of Enersource and provide us with advice to maximize its financial value to the City," said Mayor Hazel McCallion. "We have not made any decisions and must allow this review process to take place in a responsible and respectful manner. I want to emphasize once again how important it is that Council have all the facts before any decisions are made."

Credit Suisse is expected to present their findings to Council on June 11, 2008.

Mississauga is Canada's sixth largest city with a population of more than 700,000. With well-established infrastructure and state of the art facilities, the City is considered to be an employer of choice, delivering quality municipal programs and services to its citizens. Mississauga is a dynamic, diverse, and progressive municipality, known for its economic strength and for being Canada's safest city.

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