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Fortis reaches deal with Belize government over 2011 expropriation

2015-09-01 05:01:21| Energy - Topix.net

ST. JOHN'S, N.L. - Fortis Inc. says it reached an agreement with the Belize government over the expropriation of its approximately 70 per cent interest in Belize Electricity Ltd. in June 2011. Fortis says the settlement includes a one-time, US$35-million cash payment by the Central American country and a reduction of the company's common equity position in the utility to about 33 per cent.

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