ransAlta Corporation has recently completed the acquisition of TransAlta Renewables, bringing the renewable energy developer under private ownership. This strategic move led to the delisting of TransAlta Renewables from the Toronto Stock Exchange, and the company is set to submit an application to cease its status as a reporting issuer in various Canadian provinces, following the delisting of its shares.
While TransAlta Renewables undergoes this transformation, common shares of TransAlta will remain actively traded on both the New York Stock Exchange and the Toronto Stock Exchange under the symbols TAC and TA, respectively.
As part of this agreement, certain directors from TransAlta Renewables have resigned from their positions, making way for the appointment of two of TransAlta's employees to the board of directors. This move is seen as a pivotal step in streamlining TransAlta's corporate structure.
John Kousinioris, President and Chief Executive of TransAlta, expressed his thoughts on this development, stating, “The closing of the acquisition of TransAlta Renewables represents a key milestone for TransAlta with our simplified and unified corporate structure positioning the Company well for future success. The combined company will unify our assets, capital, and capabilities to enhance cash flow predictability while enhancing our ability to realize future growth.”
