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Timothy Smith

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Timothy Smith

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Tuesday, 09/22/2015 10:00:34 AM

Tuesday, September 22, 2015 10:00:34 AM

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AltaGas (OTCPK:ATGFF) says it agrees to acquire three gas-fired electric power plants in California for US$642M from Highstar Capital IV, a fund run by Oaktree Capital.

The three utilities generate a combined 523 MW of power and supply power under contract to Pacific Gas & Electric.

AltaGas already operates a natural gas-fired plant in the town of Blythe that supplies electricity to Southern California Edison, but it says the acquisition will allow it to diversify its business in North America amid a glut of natural gas in Canada and the U.S.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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