March 25, 2019 / 2:48 PM / 4 months ago

BUZZ-TransAlta: Shares charge up after Brookfield's C$750 mln investment

** Shares of Canadian power company up ~5 pct at C$9.54

** TransAlta Corp to receive C$750 mln investment from Brookfield Renewable Partners

** TA says will add 2 nominees of Brookfield to its slate of directors for election at annual shareholders meeting as part of the deal

** Brookfield to raise stake in co to 9 pct - TransAlta

** Brookfield Asset Management Inc owns a 4.92 pct stake in TransAlta as of Dec. 31. - Refinitiv data

** “With a name like Brookfield stepping in to crystalize the value of the company’s hydro assets while committing to increase its ownership to 9 pct... we expect a positive reaction for the stock..” - National Bank of Canada Financial Markets

** Including Monday’s gains, stock up 70.6 pct this year (Reporting by Shanti S Nair in Bengaluru)

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