04:22 PM EST, 11/26/2024 (MT Newswires) -- Capital Power ( CPXWF ) after close Tuesday announced that Axium Infrastructure, through one of its managed funds, has agreed to acquire a 49% interest in two operating Canadian wind facilities from it.

A statement noted the 246 MW portfolio includes the Quality Wind facility in British Columbia and the Port Dover and Nanticoke Wind facility in Ontario. Total pre-tax cash proceeds to Capital Power ( CPXWF ) from the transaction are expected to be approximately $340 million, inclusive of working capital.

Capital Power ( CPXWF ) will continue to manage and operate the assets on behalf of the newly formed partnership under a long-term asset management agreement. The transaction is expected to close by year-end 2024, subject to customary closing conditions.

Axium Infrastructure, comprised of Axium Infrastructure Inc. and its affiliated entities, is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets.

CPX rose $0.91 or 1.5% to $61.91 today, and hit a fresh 52 week high of $62.46.