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News >  Business

Avista sale to Hydro One passes antitrust test

UPDATED: Fri., April 6, 2018

AVISTAMUG_001_TT
TYLER TJOMSLAND
SPOKESMAN REVIEW
SR (Tyler Tjomsland / The Spokesman-Review)
AVISTAMUG_001_TT TYLER TJOMSLAND SPOKESMAN REVIEW SR (Tyler Tjomsland / The Spokesman-Review)
From staff reports

Avista Corp. has cleared another hurdle in the company’s pending $5.3 billion sale to Hydro One Ltd., of Toronto.

The proposed sale has received antitrust clearance under the federal Hart-Scott-Rodino Anti-Trust Improvements Act, Avista reported. There was a 30-day waiting period under the act that expired Thursday. The antitrust clearance was required for the sale to proceed.

Avista and Hydro One have submitted applications to public utility commissions in Washington, Idaho, Oregon, Montana and Alaska. All must still approve the sale.

Additional approval is required from the Federal Communications Communication and the Committee on Foreign Investment in the United States.

Avista and Hydro One expect to close the sale in the second half of this year.

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