Fortis Selling Its Stake in Waneta Expansion for $991 Million

Fortis Inc. has signed a deal with Columbia Basin Trust and Columbia Power Corporation to sell its 51% interest in the 335 MW Waneta Expansion Hydroelectric Project in British Columbia for approximately $1 billion.

The transaction closed on April 16, 2019.

The Davies team working on this transaction included Richard Fridman, Jennifer Prieto and Chris Anderson.


IRS Releases Final Regulations on Deductibility of Business Interest Expense

Aug. 05, 2020 - The IRS recently released long-awaited final regulations (Final Regulations) on the limitation on the deductibility of interest expenses under section 163(j), along with new proposed regulations (New Proposed Regulations) that address a variety of highly technical issues that are not covered by...

IRS Finalizes High-Tax Exception to GILTI

July 22, 2020 - The U.S. Treasury Department and the IRS have released final regulations (2020 Final Regulations) allowing certain domestic shareholders of a “controlled foreign corporation” (CFC) to elect under a high-tax exception to opt out of the tax imposed on the CFC’s “global intangible low-taxed...