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Warren Buffett’s Berkshire Hathaway says it will buy AltaLink from SNC-Lavalin for $3.2 billion, the Financial Post reports.

Read: Buffett steers investors to AirBnB

AltaLink is an energy transmission company based in Calgary. It owns 280 power substations and around 12,000 km of lines. Even with the Berkshire purchase, it will continue to operate as a separate company.

The deal has been approved by the boards of both companies, reports FP. It’s expected to close by the end of the year. Berkshire and SNC-Lavalin say they plan to work together on future energy projects.

Read more here.

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Originally published on Advisor.ca

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