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Fortis Inc. has acquired all of the outstanding shares of P.P.C. Limited and Atlantic Equipment and Power (Turks and Caicos) Limited, which together serve 80% of the electricity customers in the Turks and Caicos Islands, from T.C. Energy Holdings Inc.  The aggregate purchase price including assumed debt was approximately US$90 million. Davies advised Fortis on M&A, securities and tax matters.

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2006