BRIEF-Emera sells 50.1 million shares of Algonquin Power & Utilities

Tue May 17, 2016 4:41pm EDT
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May 17 (Reuters) - Emera Inc

* Emera inc. Sells 50.1 million common shares of algonquin power & utilities corp.

* Continues to hold an equity interest in apuc equivalent to approximately 12.9 million common shares

* Proceeds, to emera, will be used in support of its general financing requirements, including proposed purchase of teco energy inc.

* Emera has agreed to sell 50.1 million common shares of apuc in a secondary sale on a "bought block trade" basis at $10.85 per common share Source text for Eikon: Further company coverage: (Bengaluru Newsroom +1-646-223-8780)