The Caisse de dépôt et placement du Québec and Abitibi-Consolidated are forming a joint venture for the company’s Ontario hydro electric generation facilities.

It will own a 25% interested in the joint venture, called ACH Limited Partnership, while Abitibi will own the rest.

The Caisse has also provided a commitment to ACH for a 10-year unsecured term loan of $250 million to partially fund the acquisition of the facilities.

This transaction is expected to close in the first half of the year.

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