Vancouver, British Columbia and St. John’s, Newfoundland and Labrador– Fortis Inc. ("Fortis"), (TSX/NYSE:FTS) and Teck Resources Limited (“Teck”), (TSX: TECK.A and TECK.B, NYSE: TECK) today announced an agreement under which Fortis will purchase Teck’s two-thirds interest in the Waneta Dam and related transmission assets in British Columbia, Canada, for $1.2 billion cash.
根据协议,泰克金属有限公司(“泰克金属s”) will be granted a 20-year lease to use Fortis’ two-thirds interest in Waneta to produce power for its industrial operations in Trail (“Trail Operations”). Annual payments will begin at approximately $75 million per year and escalate at 2% per annum, equivalent to an initial power price of $40/MWh based on 1,880 GWh of energy per annum. Teck Metals will have an option to extend the lease for a further 10 years at comparable rates.
“This agreement will further strengthen Teck’s balance sheet and provide significant new capital that can be reinvested to grow our overall business,” said Don Lindsay, President and CEO, Teck. “We have secured a long-term power supply for Trail Operations at competitive, below-market pricing and will invest in innovative projects to further enhance and modernize this facility.”
“Waneta is a high-quality, renewable energy facility located in an area central to our BC operations, making this acquisition a natural fit with our strategy to increase our investment in sustainable energy,” said Mr. Barry Perry, President and CEO of Fortis. “Waneta will be a stable long-term asset that will generate strong cash flows secured by a 20-year lease with Teck. The transaction is expected to be immediately accretive to earnings per share.”
Teck expects to realize a net book gain of approximately $800 million on the closing of the transaction. No cash tax will be payable on the proceeds.
自2012年以来，泰克公司已投入约5.25亿美元用于提高效率、生产力和环境绩效的项目试运行。此外，泰克还承诺出资1.74亿美元建设第二座新酸厂，该厂目前正在建设中，计划于2019年夏季投产。泰克还确定并正在评估另外1.5亿美元的新项目，以在未来五年内提高盈利能力、生产力和环境绩效。
The acquisition of the Waneta Dam, located in the centre of FortisBC’s territory, demonstrates Fortis’ commitment to and confidence in British Columbia. FortisBC has longstanding roots in the area that span more than a century with FortisBC employing approximately 350 workers in the Kootenay region. In addition to operating four of its own generating facilities on the Kootenay River, FortisBC currently operates and maintains Waneta and the Waneta Expansion.
瓦内塔大坝将作为富通公司（Fortis Inc.）不受监管的能源基础设施子公司运营。富通将通过库存现金、债务和股权的组合为交易融资。
Closing of the transaction is subject to customary conditions, including receipt of certain approvals and consents. In addition, BC Hydro, which owns one-third of the Waneta Dam assets and currently receives one-third of the Waneta Dam generation, has a right of first offer with respect to the sale of Teck’s two-third interest under the 2010 co-ownership and operating agreement between Teck Metals and BC Hydro in relation to Waneta. In addition, certain consents and amendments from BC Hydro are required in connection with the transaction. Teck will pay a break fee to Fortis in the event BC Hydro exercises its right of first offer. Closing is expected to occur in the fourth quarter of 2017.
CIBC World Markets Inc.担任Teck Resources有关交易的独家财务顾问。
About Waneta Dam
Waneta大坝位于Pend d'Oreille河上，总发电量为496兆瓦（MW），平均每年发电2750千兆瓦时。泰克的试运行每年利用瓦内塔大约1880千兆瓦时的能源。BC Hydro拥有Waneta三分之一的所有权权益，并获得Waneta大坝发电量的约三分之一。富通持有2015年完成的瓦内塔扩建项目51%的权益。该项目从大坝下游的第二个发电站新增了335兆瓦的清洁发电量。瓦内塔大坝受运河电站协议（“CPA”）管辖，该协议是BC Hydro、FortisBC和Kootenay河和Pend d'Oreille河沿线的其他电站所有者之间的合同安排。CPA使各方能够通过协调使用水流和协调水库和发电厂的运行，从各自的发电厂集中发电，而不是独立运行。Teck在Waneta大坝产出中的三分之二权益是根据CPA条款确定的。CPA缓解了Waneta大坝的水文风险。此次收购还包括71号线输电线路和其他本地输电资产。这条线路可以进入美国电力进出口市场。
About Trail Operations
Teck’s Trail Operations, located in southeastern British Columbia, is one of the world’s largest fully integrated zinc and lead smelting and refining complexes. It also produces a variety of precious and specialty metals, chemicals and fertilizer products. Over half of the product refined at Trail Operations comes from Teck mines.
In 2016, Trail Operations produced and sold 312,000 tonnes of refined zinc and generated $2.05 billion in revenues and $241 million in gross profit before depreciation and amortization.
About Fortis
Fortis is a leader in the North American regulated electric and gas utility industry with total assets of approximately $48 billion. The Corporation's 8,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries.
富通股票在多伦多证券交易所和纽约证券交易所上市，交易代码为FTS。更多信息可访问www.fortisinc.com,www.sedar.com, orwww.sec.gov.
About Teck
泰克是一家多元化资源公司，致力于负责任的采矿和矿产开发，主要业务部门专注于铜、炼钢、煤炭、锌和能源。总部位于加拿大温哥华，其股票在多伦多证券交易所上市，股票代码为TECK.A和TECK.B，在纽约证券交易所上市，股票代码为TECK。了解更多关于Teck的信息m.xzjshn.com或跟随@TeckResources.
Forward-Looking Statements
Fortis and Teck include forward-looking information in this release within the meaning of applicable securities laws including the Private Securities Litigation Reform Act of 1995. Wherever possible, words such as "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "target", "will", "would" and the negative of these terms and other similar terminology or expressions have been used to identify the forward-looking information, which includes with respect to Fortis, without limitation: statements related to the acquisition of an interest in the Waneta Dam and related transmission assets; the expected timing and benefits thereof; the total expected consideration and adjustments; the conditions precedent to the closing, including receipt of certain approvals and consents; and the expected financing of the acquisition. Forward-looking information with respect to Teck includes, without limitation: statements related to the sale of an interest in the Waneta Dam and related transmission assets and lease of an interest therein, expected benefits of the transaction, amount of the expected net book gain, timing of completion of the second acid plant at Trail Operations, potential for new projects at Trail Operations and potential benefits thereof, the conditions precedent to the closing, including receipt of certain approvals.
前瞻性信息涉及重大risk, uncertainties and assumptions. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking information. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally, including those identified from time to time in the forward-looking information. Such risk factors or assumptions include, but are not limited to: the ability to obtain the required approvals in connection with the acquisition and the timing and terms thereof; risks associated with the uncertainty of the completion of the acquisition and the timing thereof; the risk that BC Hydro exercises its pre-emptive right; interloper risk; the risk that conditions to the acquisition may not be satisfied; risk associated with the impact of less favorable economic conditions on Fortis’ and Teck’s results of operations; currency exchange rates and general economic, market and political conditions. In addition, with respect to Teck, assumptions regarding new projects at Trail Operations and their benefits assume such projects are approved and perform as anticipated. Fortis and Teck caution readers that a number of factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in their forward-looking information. These factors should be considered carefully and undue reliance should not be placed on the forward-looking information. For additional information with respect to certain of these risks relating to Fortis, reference should be made to the continuous disclosure materials filed from time to time by Fortis with Canadian securities regulatory authorities and the Securities and Exchange Commission. Fortis disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional information with respect to certain of these risks relating to Teck, reference should be made to the continuous disclosure materials filed from time to time by Teck with Canadian securities regulatory authorities and the Securities and Exchange Commission. Teck does not assume the obligation to revise or update forward-looking statements after the date of this release or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
投资者咨询
Ms. Janet Craig
Vice President, Investor Relations
Fortis Inc.
709.737.2900
investorrelations@fortisinc.com
Greg Waller
Senior Vice President, Investor Relations and Strategic Analysis, Teck
604.699.4014
格雷格。waller@teck.com
媒体咨询
Ms. Karen McCarthy
Director, Communications & Corporate Affairs
Fortis Inc.
709.737.5323
media@fortisinc.com
Chris Stannell
Senior Communications Specialist, Teck
604.699.4368
chris.stannell@teck.com
