Boralex Inc. announces an agreement with Novergaz Inc.MONTREAL--(BUSINESS WIRE)--June 12, 1996--BORALEX INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME:BLX BLX Business Line Expert BLX Basic Launch Complex BLX British Legion of Xbox (gaming clan) ) -- Boralex Inc. ("Boralex") announces that it has just concluded an agreement with Novergaz Inc. by which Boralex sells 30 percent of Hydraska St-Lambert Inc. and 20 percent of the shares in Societe en commandite hydro lectrique Buckingham for a total consideration of $5,500,000. This transaction is subject to normal conditions including due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , the signing of a definitive sale & purchase agreement and authorization from the boards of directors of Boralex and Novergaz Inc. Hydraska St-Lambert Inc., a wholly-owned subsidiary of Boralex, operates a 6.5 MW power plant on the St. Lawrence Seaway Noun 1. St. Lawrence Seaway - a seaway involving the Saint Lawrence River and the Great Lakes that was developed jointly by Canada and the United States; oceangoing ships can travel as far west as Lake Superior Saint Lawrence Seaway . Societe en commandite hydro lectrique Buckingham which is a limited partnership 70 percent owned by Boralex, operates a 9.9 MW power plant on the river Le Lievre in the municipality of Buckingham. Boralex is a public corporation and has been listed on the Montreal Exchange since 1984. The majority shareholder is Cascades Energie (1995) Inc. (82.5 percent). Novergaz Inc. is owned by both Noverco Inc. and the group Gaz de France Gaz de France (GDF) is a French company which produces, transports and sells natural gas around the world and especially in France which is its main market, but also Belgium, the United Kingdom, Germany and other European countries. . The proceeds of this transaction will be used to finance the continued development of the corporation's hydroelectric and co-generation projects and will improve the corporation's ability to respond to potential acquisition opportunities. CONTACT: BORALEX INC. Jacques Gauthier, 514/282-2634 |
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