LEXPERT MAGAZINE
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MAY 2018 21
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CORPORATE TRANSACTIONS OF IMPORTANCE
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property), and Sean Smyth and Lyndsey
Delamont (court approval); and in the
United States by Husch Blackwell LLP
with a team that included John Brungardt
and Victoria Sitz (regulatory).
A special committee of the board of di-
rectors of Pure Technologies was represent-
ed by Osler, Hoskin & Harcourt LLP
with a team that included Andrea Whyte
and Justin Sherman.
DON WALL AND PHI, INC.
ACQUIRE HNZ GROUP INC.
CLOSING DATE: DECEMBER 29, 2017
On December 29, 2017, Mr. Don E. Wall
(Don Wall), PHI Inc. (PHI) and HNZ
Group Inc. (HNZ), a TSX-listed provider
of helicopter transportation and related
support services, completed a statutory
plan of arrangement pursuant to which,
among other things, Don Wall, through
a beneficially wholly owned acquisition
company, acquired all of the issued and
outstanding common shares and variable
voting shares of HNZ for $18.70 in cash
per share, and PHI subsequently acquired
HNZ's offshore business conducted in
New Zealand, Australia, the Philippines
and Papua New Guinea.
e total consideration paid to former
holders of HNZ shares was approximately
$233 million.
Don Wall was represented by Burnet,
Duckworth & Palmer LLP, with a team
that included Colby Dewart (aviation), Ja-
cob Hoeppner and Nigel Behrens (M&A),
Kirk Lamb (tax) and Katherine Pybus, and
Nicole Chorley (banking).
PHI Inc. was represented in Canada by
Blake, Cassels & Graydon LLP, with a
team that included David Kruse, Richard
Turner, Joseph Zed and Niloofar Entezari
(M&A), Donald Gray and Auriol Marasco
(aviation), Paul Stepak and Sabrina Wong
(tax), Jason Gudofsky and Kate McNeece
(competition and foreign investment),
Gary Daniel (intellectual property), Sil-
vana D'Alimonte and Jason Kolarich (real
estate), Holly Reid, Daryl Cukierman, No-
emi Blasutta and Salma Gilani (labour &
employment), Lindsay Mcleod (pensions
& benefits), Jonathan Kahn and Grace
Smith (environmental), and Sébastien
Guy (litigation); and in the United States
by Jones Walker LLP, with a team that
included Kenneth Najder, Daniella Silber-
stein, Sarah Hunt and omas Kimball
(corporate and securities), and Amy Scafi-
del (commercial lending).
HNZ was represented by McCar-
thy Tétrault LLP, with a team that was
led by Clemens Mayr and included Fra-
ser Bourne, Mark McEwan, Xin Gao and
Konstantin Sobolevski (business law),
Christian Meighen, Angelo Discepola and
Andrew Haikal (tax), and François Gir-
oux (litigation).
HNZ's special committee was represent-
ed by Fasken Martineau DuMoulin LLP,
with a team that included Gabriel Casti-
glio and Michel Boislard (business law).
Consumer Services Energy & Power Pipelines
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E-Commerce Construction & Engineering
Consumer Staples
ALBERTA 500KV POWER
TRANSMISSION LINE
PROJECT REACHES
FINANCIAL CLOSE
CLOSING DATE: OCTOBER 2, 2017
Alberta PowerLine is a partnership be-
tween Canadian Utilities (an ATCO
company) and Quanta Services. Alberta
PowerLine was selected by the Alberta
Electric System Operator (the AESO) in
December 2014 to design, build, own,
operate and finance the Fort McMurray
West 500 kV Transmission Project.
Valued at $1.43 billion, the project con-
sists of approximately 500 kms of 500 kV
transmission line and associated facilities
running from Wabamun (west of Edmon-
ton) to Fort McMurray.
Under the partnership, Valard Con-
struction, a Canadian subsidiary of
Quanta, will provide turnkey EPC ser-
vices for the project while ATCO Electric,
an ATCO company, will be responsible
for route planning and operations and
maintenance of the transmission facilities
for 35 years.
e proposed route, substations and
design of the transmission line were sub-
ject to approval by the Alberta Utilities
Commission, and approval was received
in February of 2017.
In early October 2017, Alberta Pow-
erLine completed a $1.38-billion four-
tranche bond deal to finance the Project.
e Project is unique in many respects,
featuring a two-stage process with the
successful proponent undertaking the
land acquisition and approvals process
during a development period prior to ex-
ecution of the Project Agreement and a
debt funding competition.
Once the Project is in service, Alberta
PowerLine will receive availability pay-
ments from the AESO that will cover
operating, maintenance and rehabilita-
tion costs, debt service and equity returns,
with payments only subject to deductions
Insight
At Stewart Title we have the knowledge and insight to
help you mitigate the risks involved in closing commercial
real estate transactions.
For a title insurance quote on your next transaction
call (888) 667-5151 or visit stewart.ca.
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