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## 17.Business Acquisitions 

## 2001 

## BECOL 

On Januar 26, 2001, the Corporation acquired a 95% interest in BECOL. BECOL owns and operates the 25-megawatt Mollejon hydroelectric facility, the only commercial hydroelectric facility in Belize. BECOL sells its entire output to Belize Electricity under a 50-year power purchase agreement. The total consideration was $103,077,000 in cash. The acquisition was accounted for using the purchase method, whereby the results of operations have been included in the consolidated financial statements commencing February 2001. 

## 2000 

## Zeigler Energy Demand Ltd. 

On October 30, 2000, Canadian Niagara Power acquired 100% of Zeigler Energy Demand Ltd., a gas marketing company in the Niagara Region. The total consideration was $100,000 cash and a $100,000 note bearing an interest rate of 6% payable on October 30, 2001. The acquisition was accounted for using the purchase method, whereby the results of operations have been included in the consolidated financial statements commencing from that date. 

## Income Producing Properties 

On December 14, 2000, Fortis Properties purchased the remaining 50% of the common shares of Brunswick Square Limited for $6,150,000 in cash. This business acquisition has been accounted for using the purchase method, whereby the results of operations of Brunswick Square Limited have been proportionately consolidated to December 14, 2000 and consolidated thereafter. 

The purchase price allocation to net assets based on their fair values is as follows: 

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