AltaLink, L.P.

AltaLink, L.P.

November 04, 2005 06:00 ET

SNC-Lavalin Group Inc. and Macquarie Essential Assets Partnership Increase Ownership Stake in AltaLink, L.P.

CALGARY, ALBERTA--(CCNMatthews - Nov. 4, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES

AltaLink, L.P., Alberta's largest electricity transmission provider, today announced that SNC-Lavalin Group Inc. and the Macquarie Essential Assets Partnership (MEAP) have signed, through subsidiaries owned by them, agreements to increase their respective indirect ownership stakes in the limited partnership.

Under the new corporate structure, SNC-Lavalin Group Inc. would indirectly own 76.92 per cent of AltaLink, L.P. and MEAP would indirectly own 23.08 per cent. This ownership change is pending approval by the Alberta Energy and Utilities Board.

This change follows decisions by the Ontario Teachers' Pension Plan and Trans-Elect Inc. to sell their investments in AltaLink, L.P.

"The stability of this transmission company and the high quality management team at AltaLink make these assets very attractive to us," said Jean Daigneault, Senior Vice-President, SNC-Lavalin Investment. "We are confident that AltaLink will continue to be a solid investment."

Alina Osorio, CEO of the Macquarie Essential Assets Partnership agreed that the AltaLink Limited Partnership fits well in its investment portfolio.

"MEAP was established to provide investors with exposure to essential infrastructure assets, such as electricity transmission and distribution networks," said Ms. Osorio. "MEAP is pleased to have the opportunity to increase its participation in this quality, infrastructure business."

AltaLink President and CEO Scott Thon said it will continue to be business as usual for AltaLink.

"Our focus continues to be providing a safe, reliable and cost-effective transmission grid that meets the needs of all Albertans," said Mr. Thon. "We are happy to have a strong ownership group committed to the same values we hold - ensuring Albertans can count on a power grid as a critical piece of our province's infrastructure."

AltaLink, Canada's only fully independent transmission provider, is responsible for the maintenance and operation of more than 11,600 kilometres of transmission lines and approximately 260 substations in Alberta. As Alberta's largest supplier of safe and reliable transmission, AltaLink is moving forward to provide a transmission system that will continue to meet the growing needs of Albertans.


Contact Information

  • AltaLink Management Ltd.: Investor Relations
    Dimitrios (Jim) Leonidas
    Executive Vice President
    and Chief Financial Officer
    (403) 267-3413
    Email: Jim.Leonidas@AltaLink.ca
    or
    AltaLink Management Ltd.: Media Relations
    Scott Schreiner
    Manager, Communications
    (403) 267-2176
    Email: Scott.Schreiner@AltaLink.ca