TransAlta Corporation Sale to Utilicorp

TransAlta Corp., Alberta’s major electrical energy generator and supplier, is making moves in the province’s soon to be de-regulated electrical generation and supply industry. In a deal announced on February 7, 2000 TransAlta and Missouri-based Utilicorp United Inc. (Utilicorp) have agreed on the sale of Transalta’s Alberta-based electrical distribution and retail assets to Utilicorp for $645 million. The sale will be completed following receipt of the necessary regulatory approvals, which are expected to be received by the end of August, 2000.

Directing the transaction on behalf of TransAlta were Paul Taylor (Senior Vice-President, Corporate Development) and Rob Hallett (General Counsel). Richard A. Shaw, Q.C., Terence Dalgleish, Q.C., Mark G. Eade and Lyle S. Yuzdepski from McCarthy Tétrault’s Calgary office are acting as Transalta’s external counsel. Acting for Utilicorp in Canada is Burnet, Duckworth & Palmer, led by Grant A. Zawalsky, John A. Brussa, W. H. (Bill) Winters and Keith F. Miller. Leslie J. Perrette Jr. and Brogan T. Sullivan from the Missouri firm Blackwell Sanders Peper Martin LLP are US counsel to Utilicorp.