PDI sale to Hydro One could close late July
Mayor Daryl Bennett says the sale of PDI to Hydro One could be complete by the end of July.
The deal has been two-years in the making and hit a snag in March 2018 when Hydro One stepped away from the talks, leaving the $105 million deal dead on the table.
Then in mid-April, the two sides resumed talks, but some on council are feeling left in the dark and now looking for an update and more information.
Councillor Henry Clarke says there is much misinformation circulating about the potential sale and says it’s not a matter of a deal being done in secrecy but instead respecting confidentiality.
If Hydro One and PDI reach a deal, it wouldn’t be set in stone, as the Ontario Energy Board would still need to give the sale its final approval.