Ontario's Abitibi Dams Being Sold

It looks like the long talked about sale of the Abitibi dams in Ontario is

about to come to fruition.

AbitibiBowater has announced its has sold a 75 percent share of its
hydro assets in the province, that includes dams in Kenora, Fort Frances
and Iroquois Falls.

The sale price is listed at 300 million dollars.

The unnamed buyer is expected to close the sale in the next 60 days.

Abitibi says it will use the proceeds to help pay off its outstanding debt.