your tax dollars at work.... First Nations in Ontario will get the chance to buy shares in Hydro One, a public utility the Liberal government has partially privatized.
The government says it has reached an agreement in principle with the province’s First Nations to loan them up to $268-million to buy up to 15 million shares at $18 per share.
That is above the province’s book value, but below the $24-to-$26 range the stock has been trading in recent months.
For the deal to go through, at least 80 per cent of the band councils will have to approve the agreement by the end of next year.
If ratified, Ontario would sell the shares to a new investment vehicle owned collectively by First Nations and provide seed capital of up to $45-million over three years.
https://www.theglobeandmail.com/news/national/ontario-strikes-deal-to-sell-hydro-one-shares-to-first-nations/article30881362/