Fort Chicago Energy Partners completes C$218.5 million acquisition of Countryside Power Income Fund
On August 15, 2007, Fort Chicago Energy Partners LP (TSX: FCE.UN) completed its acquisition of all of the outstanding units of Countryside Power Income Fund (TSX: COU.UN) and US$18,113,000 of 6.25% exchangeable debentures of Countryside Canada Power Inc. for total cash consideration of approximately C$218.5 million. Countryside's portfolio includes four operational power facilities: a 49 MW gas-fired cogeneration facility in northern California; a 44 MW gas-fired cogeneration facility in southern California; a district energy system in Charlottetown, P.E.I.; and a district energy system in London, Ontario. Countryside's portfolio also includes a 17 MW gas-fired cogeneration facility under construction in London, and opportunities for repowering and greenfield expansion at the California facilities.
Lehman Brothers is the financial adviser to Countryside Power Income Fund and CIBC World Markets Inc. is the financial adviser to Fort Chicago Energy Partners.
Further information is found on Canada Newswire's website.