AbitibiBowater has completed the sale of its hydro-electric assets in Ontario which include the dams in Kenora and Fort Frances.The company is receiving 300-hundred million dollars for the sale to a consortium of a Canadian investor and a private Canadian renewable energy company.
Chief executive officer Richard Garneau says it allows the company to reduce its debt and help improve its finances.
The hydro dam in Iroquois Falls is also on the list of assets being sold by AbitibiBowater.
