U.S. Markets close in 4 hrs 39 mins

Ontario Power Generation to acquire Cube Hydro for $1.12 bln

June 25 (Reuters) - Ontario Power Generation said on Tuesday it will buy U.S.-based hydropower company Cube Hydro for $1.12 billion to add to its existing U.S. hydro platform.

The deal is expected to generate operational synergies, including opportunities for further capital deployment, Ontario Power said.

Cube Hydro operates 19 hydropower facilities, providing 385 MW of in-service capacity across New York, Pennsylvania, Virginia, West Virginia and North Carolina.

The deal will be financed primarily through Ontario Power's corporate public debt program, the company said. (https://reut.rs/2xeNyDy)

The Ontario government owned power company is being advised by Goldman Sachs & Co LLC. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shounak Dasgupta)