Fortis (FTS), GIC Private Announce Completion of ITC Holdings (ITC) Acquisition
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Fortis Inc. and GIC Private Limited Complete Acquisition of ITC Holdings Corp.
October 14, 2016 9:28 AM EDTST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 10/14/16 -- Fortis Inc. ("Fortis" or the "Corporation") (TSX: FTS)(NYSE: FTS) and GIC Private Limited ("GIC") announced today the closing of the approximately US$11.3 billion acquisition of Novi, Michigan-based ITC Holdings Corp. ("ITC").
Fortis is now among the top 15 North American regulated investor-owned utilities ranked by enterprise value. Its 8,000 employees serve customers at utility operations in five Canadian provinces, nine U.S. states and three Caribbean countries.
The Federal Energy Regulatory Commission sets rates for approximately 30% of the... More
