Domtar Corp. (UFS) Unit to Sell Hydro Assets in $45M Deal with Energy Ottawa

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Domtar Corporation (NYSE: UFS) announced the signing by its Canadian subsidiary, Domtar Inc., of a Definitive Purchase and Sale Agreement for the sale of its hydro assets in Ottawa, Ontario and Gatineau, Quebec for $45 million.

The purchaser is Energy Ottawa Inc., the renewable energy subsidiary of Hydro Ottawa Holding Inc.

The agreement with Energy Ottawa signed on April 4, 2012 is subject to customary closing conditions, including certain third party approvals, with closing expected by August 31, 2012.

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