Heartland Generation Ltd. entered into a definitive agreement to acquire stakes in 11 natural gas-fired and coal-fired electricity generation assets from Canadian Utilities Limited (TSX:CU) on May 27, 2019. Canadian Utilities partly or fully owns natural gas-fired and coal-fired electricity generation assets located in Alberta, British Columbia, and Ontario, with a combined generating capacity of approximately 2,100 megawatts. In a related transaction, SaskPower International entered into an agreement to acquire 50% stake in 260 MW Cory Cogeneration Station from Canadian Utilities Limited. Canadian Utilities will receive aggregate proceeds of approximately CAD 835 million, subject to customary closing adjustments. The sale agreements do not include ASHCOR Technologies, the Oldman River Hydro Facility, or international projects, which are being retained by Canadian Utilities. The sale is subject to receipt of regulatory approvals and satisfaction of other customary closing conditions and is expected to close in the second half of 2019. RBC Capital Markets and J.P. Morgan acted as financial advisors to Canadian Utilities. Aaron Hullman, Jeffrey Greenberg and David Kurzweil of Latham & Watkins LLP acted as legal advisors to Energy Capital Partners, parent of Heartland Generation.