Hashtag: #AscendantSale

Ascendant Group Shareholders Approve Sale

Ascendant Group Shareholders Approve Sale

The shareholders of Ascendant Group — the parent company of BELCO — today approved the sale of the Company to Algonquin Power & Utilities Corp. A spokesperson said, “Ascendant Group Limited, a publicly traded provider of energy and energy-related services, today announced that at the special general meeting of the shareholders... Read more of this article

Minister On Electricity Amendment Act 2019

Minister On Electricity Amendment Act 2019

[Updated with PDF] Speaking in the House of Assembly today [June 7], Minister of Home Affairs Walter Roban said he will table a Bill entitled the ‘Electricity Amendment Act 2019.’ “Quite coincidentally, we were working on this amendment to the Electricity Act 2016 to assure the proper regulation of the electricity sector when the... Read more of this article

Algonquin Releases ‘Acquisition Fact Sheet’

Algonquin Releases ‘Acquisition Fact Sheet’

With Ascendant Group Limited having signed an agreement with Algonquin Power & Utilities Corp to “sell the Company subject to shareholder and regulatory approvals,” an ‘acquisition fact sheet’ has been released by the Canadian company highlighting its position and intentions regarding the sale. Bloomberg video interview with Algonquin... Read more of this article

ESTU To Meet Regarding Ascendant Sale

ESTU To Meet Regarding Ascendant Sale

The Electricity Supply Trade Union [ESTU] will meet with their members to discuss the planned sale of the Ascendant Group, with the ESTU President noting there is “considerable tension around this announcement, and we will look to make sure our members can voice their queries.” Agreement To Sell Ascendant To Canadian Company For $365 Million Yesterday,... Read more of this article

RA To “Evaluate” Proposed Sale Of BELCO

RA To “Evaluate” Proposed Sale Of BELCO

[Updated] The Regulatory Authority of Bermuda said they “will evaluate the proposed change of control of BELCO in accordance with the provisions of applicable legislation and any Ministerial directions.” This follows after Ascendant, the parent company of BELCO, confirmed that they signed an agreement with Algonquin Power & Utilities... Read more of this article

Ascendant Sign Agreement To Sell Company

Ascendant Sign Agreement To Sell Company

[Updated: Ascendant, the parent company of BELCO, confirmed they have signed an agreement with Algonquin Power & Utilities Corp to “sell the Company subject to shareholder and regulatory approvals," while a statement from Algonquin — which lists its head office in Ontario, Canada — said that under the terms of the all-cash transaction, "Ascendant’s... Read more of this article

Ascendant Invite Groups To Submit Proposal

Ascendant Invite Groups To Submit Proposal

[Updated] “At the request of Ascendant Group Limited, the Bermuda Stock Exchange [BSX] has suspended trading of Ascendant’s common shares pending an announcement by the Company,” the BSX stated this morning [April 1]. Last time the BSX suspended trading of Ascendant shares, back in January, Ascendant — the parent company of BELCO... Read more of this article

Govt’s Policy Directions: Possible Sale Of BELCO

Govt’s Policy Directions: Possible Sale Of BELCO

[Updated] Speaking in the House of Assembly today [March 22], Minister of Home Affairs Walter Roban provided an overview of the policy directions that he provided to the Regulatory Authority. This follows after the Ascendant Group — the parent company of BELCO — said they are “evaluating strategic alternatives, including the potential sale of... Read more of this article

ESTU Meets With Board Of Ascendant Group

ESTU Meets With Board Of Ascendant Group

The announcement that Ascendant is evaluating a potential sale of the company has “raised concerns about the future of the company and our members,” the Electricity Supply Trade Union said today, adding that they have met with the Ascendant Board and plan to further discuss the matter at a meeting today. This follows after the board of the... Read more of this article

‘Evaluating Alternatives, Including Potential Sale’

‘Evaluating Alternatives, Including Potential Sale’

[Updated] The Bermuda Stock Exchange has suspended trading of the common shares of the Ascendant Group — the parent company of BELCO — “pending an announcement by the Company.” In a statement this morning [Jan 28], the BSX said, “At the request of Ascendant Group Limited, the Bermuda Stock Exchange has suspended trading... Read more of this article