BIU wades into Ascendant sale issue

  • BIU: Ascendant selling Belco t


A union leader has warned the owner of power firm Belco not sell the company to Canadian investors.

Chris Furbert, president of the Bermuda Industrial Union, highlighted rumours heard “through the grapevine” that Sean Durfy, the Canadian chief executive of Belco’s parent, Ascendant Group, may be “behind the scenes trying to make sure that Belco is sold to a Canadian company”.

Mr Durfy’s role with Ascendant in October came under fire from the Electricity Supply Trade Union, which took industrial action over four Bermudian staff removed from Belco.

The ESTU demands included the firing of Mr Durfy, but he remained at the helm of Ascendant, although Dennis Pimentel, a Bermudian, was appointed as Belco president.

“There are some questions that Government needs to raise in relation to this sale to make sure Mr Durfy is not paddling his own canoe,” Mr Furbert said yesterday at a press conference.

He added the Government should block the sale of Belco to a foreign company and make sure it remained “Bermuda owned”.

Ascendant announced in January that it was examining options that included a possible sale of the company.

The company has not identified any prospective buyers, although possibilities reported this month in The Royal Gazette included the Canadian utilities group Fortis.

Mr Furbert highlighted Aecon, a Canadian construction company, which was granted a 30-year concession for the airport terminal in 2017.

He said: “It seems like Canada is the place to go.”

Walter Roban, the Minister of Home Affairs, has said the Regulatory Authority, was to be told that any potential new owners would be required to stick to the island’s Integrated Resource Plan for electricity supply.

You must be registered or signed-in to post comment or to vote.

Published Apr 24, 2019 at 8:00 am (Updated Apr 24, 2019 at 7:28 am)

BIU wades into Ascendant sale issue

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Who are your favourites to win the Cricket World Cup?"
    • Australia
    • 11%
    • Bangladesh
    • 3%
    • England
    • 28%
    • India
    • 17%
    • New Zealand
    • 5%
    • Pakistan
    • 4%
    • South Africa
    • 4%
    • West Indies
    • 27%
    • Total Votes: 3942
    • Poll Archive

    Today's Obituaries

    eMoo Posts