Business News • MarketWire • First Asset PowerGen Fund Update on Confederation Power Inc. |
First Asset PowerGen Fund Update on Confederation Power Inc. |
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First Asset PowerGen Fund Update on Confederation Power Inc.
TORONTO, ONTARIO--(Marketwire - June 9, 2010) - First Asset PowerGen Fund (the "Fund") (TSX:PGT.UN), would like to provide an update on the status of the process to enhance the value of Confederation Power Inc. ("Confederation") to the Fund and its unitholders. As previously announced, the Fund retained a nationally recognized investment bank to help it assess strategic alternatives to enhance the value of Confederation to the Fund, including through a possible sale of some or all of the shares or assets of Confederation. This process is on-going, and the Fund is currently in discussions with several potential purchasers. If a proposal acceptable to the Fund is received, the Fund would expect to complete a transaction in the third quarter of 2010. No assurance can be given that a transaction on terms acceptable to the Fund can be completed. The Fund will continue to assess all available alternatives and opport
View More : http://www.marketwire.com/mw/release.do?id=1273900&sourceType=3
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