Ontario to sell 60 pct of Hydro One in IPO

Thu Apr 16, 2015 12:10pm EDT
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April 16 (Reuters) - Ontario Premier Kathleen Wynne said on Thursday her Liberal government would sell up to 60 percent of the province's electrical utility Hydro One, but would limit minority shareholders to 10 percent stakes.

Canada's most populous province will continue to regulate electricity rates, Wynne said, and the proceeds from the sale will be used to fund transit and infrastructure.

Wynne said David Denison, former head of the Canada Pension Plan Investment Board, would replace Sandra Pupatello as Hydro One's chair.

(Reporting by Andrea Hopkins; Editing by Christian Plumb)