Americans take over B.C. utility company
Date: Saturday, November 12 2005
Terasen takeover by Kinder Morgan approved by utilities commission
19:43:12 EST Nov 10, 2005
VICTORIA (CP) - American-owned energy giant Kinder Morgan was granted approval Thursday to take over B.C. utility company Terasen Inc.
The B.C. Utilities Commission announced its approval in a 51-page decision that concluded the sale will not hurt the public interest, despite public concerns about the deal. The commission said it received 8,000 letters of concern about the sale of the B.C. company to an American company. "Virtually all letters of comment oppose the transaction," said the commission's decision.
Most of the letters expressed concern over foreign ownership and American ownership in particular.