Emera to acquire Leucadia’s Interest in Light & Power Holdings Ltd. 2010-05-05
Emera Inc. (Emera) of Canada announced yesterday evening that it has concluded an agreement to acquire C I Power Company Ltd. (CIP), a subsidiary of Leucadia National Corporation (Leucadia), which owns a 38% interest in Light & Power Holdings Ltd. (LPH).
LPH is the parent company of The Barbados Light & Power Company Limited, which has been serving electricity customers in Barbados for almost 100 years. A 62% majority of the interest in LPH is held by approximately 2,700 Barbadian shareholders, including the National Insurance Board which owns 23%.
Emera is based in Nova Scotia, Canada, and is an energy and services company with electricity as its core business.Emera has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 603,000 customers.
