The sale of Avista Corp. to a Canadian utility passed a major milestone Tuesday when the parties outlined conditions in a proposed agreement with Washington regulators.
After the $5.3 billion sale, Avista would operate as a wholly-owned subsidiary of Hydro One Ltd. of Toronto.
Hydro One has agreed to keep Avista’s headquarters in Spokane, retain similar workforce levels and continue as a major player in the region’s economic development efforts.