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Buffet looking to expand into Alberta

S.S.A.P.

Well-known member
http://chattelevision.ca/__news/altalink-sold-to-warren-buffets-berkshire-hathaway/

ALTALINK
FRIDAY, MAY 02, 2014 -
Canadian engineering giant SNC Lavalin is selling its entire stake in Altalink, the Alberta electricity transmission company. The deal is said to be worth around $3.2 billion which is far beyond what the market had been expecting. The buyer is legendary investor Warren Buffet’s company Berkshire Hathaway.


Altalink delivers electricity to approximately 85% of the province and owns more than half of Alberta’s transmission lines. That’s the reason why NDP leader Brian Mason is calling on the provincial government to block the sale. Mason says, “this is a bad deal for Albertans. They are buying this company with assets of nearly $6 billion and they are buying it for slightly over $3 billion, so they stand to make an enormous profit and that does come at the expense of Albertans.” Mason says that all of the new transmission infrastructure being built in the province will be paid for by taxpayers. Mason says, “the rate payers will now being paying for the assets that will now belong to Bershire Hathaway.”


SNC-Lavalin shares rose 5% to $52.14 in trading Friday on the Toronto Stock Exchange. The deal is expected to close by the end of the year.
 

hypocritexposer

Well-known member
I'd have to do a bit of checking, but, unless Altalink owns the contracts for the future transmission lines, then Hathaway would only be purchasing existing, and would have to bid on the future.

There is a way to buy back some of your taxpayer dollars though...invest in the company.

IMO, Berkshire Hathaway can invest in Alberta all they want, it's the corporatism that I have a problem with.

Hopefully we remain Conservative in Alberta and do not let that happen, any more than it already does.
 
A

Anonymous

Guest
S.S.A.P. said:
http://chattelevision.ca/__news/altalink-sold-to-warren-buffets-berkshire-hathaway/

ALTALINK
FRIDAY, MAY 02, 2014 -
Canadian engineering giant SNC Lavalin is selling its entire stake in Altalink, the Alberta electricity transmission company. The deal is said to be worth around $3.2 billion which is far beyond what the market had been expecting. The buyer is legendary investor Warren Buffet’s company Berkshire Hathaway.


Altalink delivers electricity to approximately 85% of the province and owns more than half of Alberta’s transmission lines. That’s the reason why NDP leader Brian Mason is calling on the provincial government to block the sale. Mason says, “this is a bad deal for Albertans. They are buying this company with assets of nearly $6 billion and they are buying it for slightly over $3 billion, so they stand to make an enormous profit and that does come at the expense of Albertans.” Mason says that all of the new transmission infrastructure being built in the province will be paid for by taxpayers. Mason says, “the rate payers will now being paying for the assets that will now belong to Bershire Hathaway.”


SNC-Lavalin shares rose 5% to $52.14 in trading Friday on the Toronto Stock Exchange. The deal is expected to close by the end of the year.


Sounds like the same deal U.S. citizens got when they tried to buy ranch/farm land or a business in Canada....
Pure Isolationism at its best- they want to be able to access all the US export markets- but then don't want any Americans being able to move into their market to compete with them..
 

S.S.A.P.

Well-known member
Oldtimer said:
S.S.A.P. said:
http://chattelevision.ca/__news/altalink-sold-to-warren-buffets-berkshire-hathaway/

ALTALINK
FRIDAY, MAY 02, 2014 -
Canadian engineering giant SNC Lavalin is selling its entire stake in Altalink, the Alberta electricity transmission company. The deal is said to be worth around $3.2 billion which is far beyond what the market had been expecting. The buyer is legendary investor Warren Buffet’s company Berkshire Hathaway.


Altalink delivers electricity to approximately 85% of the province and owns more than half of Alberta’s transmission lines. That’s the reason why NDP leader Brian Mason is calling on the provincial government to block the sale. Mason says, “this is a bad deal for Albertans. They are buying this company with assets of nearly $6 billion and they are buying it for slightly over $3 billion, so they stand to make an enormous profit and that does come at the expense of Albertans.” Mason says that all of the new transmission infrastructure being built in the province will be paid for by taxpayers. Mason says, “the rate payers will now being paying for the assets that will now belong to Bershire Hathaway.”


SNC-Lavalin shares rose 5% to $52.14 in trading Friday on the Toronto Stock Exchange. The deal is expected to close by the end of the year.


Sounds like the same deal U.S. citizens got when they tried to buy ranch/farm land or a business in Canada....
Pure Isolationism at its best- they want to be able to access all the US export markets- but then don't want any Americans being able to move into their market to compete with them..

OT - you should have given an example for those readers who don't understand where you are coming from ... like .... how you are afraid of a little competition in the beef industry and "don't want any Canadians being able to move into your market to compete with you" :wink:
 

bearvalley

Well-known member
Oldtimer said:
S.S.A.P. said:
http://chattelevision.ca/__news/altalink-sold-to-warren-buffets-berkshire-hathaway/

ALTALINK
FRIDAY, MAY 02, 2014 -
Canadian engineering giant SNC Lavalin is selling its entire stake in Altalink, the Alberta electricity transmission company. The deal is said to be worth around $3.2 billion which is far beyond what the market had been expecting. The buyer is legendary investor Warren Buffet’s company Berkshire Hathaway.


Altalink delivers electricity to approximately 85% of the province and owns more than half of Alberta’s transmission lines. That’s the reason why NDP leader Brian Mason is calling on the provincial government to block the sale. Mason says, “this is a bad deal for Albertans. They are buying this company with assets of nearly $6 billion and they are buying it for slightly over $3 billion, so they stand to make an enormous profit and that does come at the expense of Albertans.” Mason says that all of the new transmission infrastructure being built in the province will be paid for by taxpayers. Mason says, “the rate payers will now being paying for the assets that will now belong to Bershire Hathaway.”


SNC-Lavalin shares rose 5% to $52.14 in trading Friday on the Toronto Stock Exchange. The deal is expected to close by the end of the year.


Sounds like the same deal U.S. citizens got when they tried to buy ranch/farm land or a business in Canada....
Pure Isolationism at its best- they want to be able to access all the US export markets- but then don't want any Americans being able to move into their market to compete with them..

There's a lot of US citizens that have bought ranches and businesses in this province. Past and present. Must be sad to be so misinformed or maybe just full of BS.
 
A

Anonymous

Guest
bearvalley said:
Oldtimer said:
S.S.A.P. said:
http://chattelevision.ca/__news/altalink-sold-to-warren-buffets-berkshire-hathaway/

ALTALINK
FRIDAY, MAY 02, 2014 -
Canadian engineering giant SNC Lavalin is selling its entire stake in Altalink, the Alberta electricity transmission company. The deal is said to be worth around $3.2 billion which is far beyond what the market had been expecting. The buyer is legendary investor Warren Buffet’s company Berkshire Hathaway.


Altalink delivers electricity to approximately 85% of the province and owns more than half of Alberta’s transmission lines. That’s the reason why NDP leader Brian Mason is calling on the provincial government to block the sale. Mason says, “this is a bad deal for Albertans. They are buying this company with assets of nearly $6 billion and they are buying it for slightly over $3 billion, so they stand to make an enormous profit and that does come at the expense of Albertans.” Mason says that all of the new transmission infrastructure being built in the province will be paid for by taxpayers. Mason says, “the rate payers will now being paying for the assets that will now belong to Bershire Hathaway.”


SNC-Lavalin shares rose 5% to $52.14 in trading Friday on the Toronto Stock Exchange. The deal is expected to close by the end of the year.


Sounds like the same deal U.S. citizens got when they tried to buy ranch/farm land or a business in Canada....
Pure Isolationism at its best- they want to be able to access all the US export markets- but then don't want any Americans being able to move into their market to compete with them..

There's a lot of US citizens that have bought ranches and businesses in this province. Past and present. Must be sad to be so misinformed or maybes just full of BS.
You can't do it north of me- but that is Saskatchewan... You have to have a Canadian resident partner that controls majority interest in order to purchase a property.... Those folks must be more prejudiced than Albertans, :wink: altho this NDP leader sounds to be quite isolationist...
 
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