Iroquois Falls dam sold.

• Position: AROUND THE NORTH

AbitibiBowater has sold its interest in the hydro dam at its Iroquois Falls operation. The company sold its 75 per cent indirect interest in ACH Limited Partnership (ACH LP) to a consortium for $300 million.

"With the sale of our interest in ACH LP, the company is able to pay off a considerable amount of debt and further improve our financial flexibility. We will continue to focus on reducing AbitibiBowater's debt, and this represents an important step forward in line with our commitment," said Richard Garneau, president and CEO in.a press release. AbitibiBowater will use $185 million to redeem a portion of outstanding...