Under the Arrangement, TransAlta acquired all of the outstanding common shares of RNW (each, a "RNW Share") not already owned, directly or indirectly, by TransAlta and certain of its affiliates, resulting in RNW becoming a wholly owned subsidiary of TransAlta. "The closing of the acquisition of TransAlta Renewables represents a key milestone for TransAlta with our simplified and unified corporate structure positioning the Company well for future success," said John Kousinioris, President and Chief Executive Officer of TransAlta. "The combined company will unify our assets, capital, and capabilities to enhance cash flow predictability while enhancing our ability to realize future growth."