AbitibiBowater has completed the sale of its hydro-electric assets in Ontario which include the dam at 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.
Local officials have said the sale of the Fort Frances dam will not impact on a long-standing power agreement.
