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Legal and financial advisory fees related to the sale of the Ascendant Group Ltd totalled $4.62 million in the first half of the year, contributing to a net loss of $1.9 million for the six-month period, the company reported. The loss compared to a p...

Dear Sir, I am a shareholder and a former board member of Belco. When I was the Permanent Secretary of the Ministry of Works and Engineering, I had many discussions with Garry Madeiros and Vince Ingham, the senior management of Belco. I had some succ...

The Canadian company that intends to take over Ascendant Group sees an opportunity in Bermuda to replace fossil fuel energy generation with renewables, as it is doing elsewhere. That was among the comments made by Ian Robertson, chief executive offic...

Shareholders of Ascendant Group Ltd have approved a takeover attempt by a Canadian utilities group. They gave overwhelming backing to the bid from Algonquin Power and Utilities Corporation, in a meeting held at the Hamilton Princess & Beach Club yest...

Dear Sir, The advice from Sir John Swan and Michael Murphy to Ascendant shareholders in their opinion in August 6 edition of The Royal Gazette was apt. The more so because of its timing, although I doubt the shareholders will subordinate their potent...

Shareholders of Ascendant Group Ltd are to vote today on whether to accept a takeover bid by a Canadian utilities group. Algonquin Power and Utilities Corp has offered $365 million for the shares in Ascendant Group. The group includes electricity sup...

The chief executive of the Regulatory Authority of Bermuda is to play no part in the utilities watchdog’s consideration of the sale of Ascendant Group Ltd, because he has a contingent interest in the company. Denton Williams became chief executive of...

Shareholders of Ascendant Group Ltd are to meet on August 9 to vote whether to approve the sale of the company to Canadian utility group, Algonquin Power & Utilities Corporation. Ascendant, which owns Belco among other interests, has accepted a takeo...

The sale of Bermuda’s electrical grid to any buyer can only move forward with approval by Bermuda’s independent Regulatory Authority. For that reason, the recent offer from Algonquin Power & Utilities Corporation to pay $360 million to shareholders o...

Ascendant Group has accepted a takeover bid worth around $365 million from a Canadian utility group. Yesterday’s announcement of the intended sale to Algonquin Power & Utility Corporation marks the conclusion of a four-month evaluation of “strategic ...

Crowds lined the streets of Hamilton to watch as a giant engine for the new Belco North Power Station was transported through the city. The 280-tonne machine inched its way to the construction site on the back of a remote-controlled transporter, whil...

I was interested to read recent exchanges between Bermudian supporters of renewable energy who identified the availability of wind data from various sources. I share a real concern at the talk of the Regulatory Authority of Bermuda finalising the int...