The Canadian Press
13 Aug 2008
TORONTO — Borealis, an investment arm of the Ontario Municipal Employees Retirement System, is teaming up with Singapore's GIC Special Investments to buy a 20 per cent minority stake in the Texas-based utility Oncor Electric Delivery Co. for US$1.25 billion.
Dallas-based energy holding company Energy Future Holdings Corp. said Wednesday that the investor group will have the right to add two directors to Oncor's board.
"The sale of a minority interest to these investors fulfills an important transaction related commitment and will enhance Oncor's financial separation from other EFH businesses," Energy Futures chief executive John Young said in a statement.
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Omers, Singapore's GIC Take $1.25 Billion Oncor Stake (Update1) - Bloomberg.com
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EFH Announces Sale of Approximate 20 Percent Minority Interest in Oncor - MarketWatch
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