Innergex Power Income Fund and Innergex Renewable Energy Inc. have announced the closing of the strategic combination of the fund and Innergex by way of a plan of arrangement. Pursuant to the arrangement, the fund acquired Innergex through a reverse take-over, thereby effecting at the same time a conversion into a corporation.
Each unitholder of the fund received 1.46 Innergex shares for each fund unit held and a distribution from the fund in the amount of C$0.07946 per fund unit.
The Superior Court of Quebec approved the arrangement on March 26.
SOURCE: Innergex Renewable Energy Inc.