GPU Inc. is set to sell 23 power plants to Sithe Energies in $1.67 billion deal

Article Abstract:

In the biggest sale of power plants yet, GPU Inc. will sell 23 plants to Sithe Energies for $1.67 billion, putting the little company on the map as a large producer of power in the Northeast U.S. Sithe is part of France-based Vivendi SA. In its exit from power production, GPU also sold its 20% interest in a power plant to FirstEnergy Corp. making FirstEnergy the 100% owner. GPU is now looking for acquisitions to take it into the gas and water business, in addition to electricity, on a global scale.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric Power Generating, Electric Power Generation, Electric services, Sithe Energies Inc., Electric power production, GPU Inc., GPU

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Dominion Resources plans $6.3 billion purchase

Article Abstract:

After shareholder and regulatory approvals, Dominion Resources is expected to buy Consolidated Natural Gas for $6.3 billion in stock and includes assuming over $2 billion in debt. Each with about two million customers, the two will become one of the U.S.'s biggest electric and gas utilities. The new company will keep Dominion's name and CEO, Thomas Capps, with headquarters in Richmond VA. Consolidated's George A. Davidson Jr. will be chairman of the new company.

Comment:

To purchase Consolidated Natural Gas for $6.3 billion

Natural Gas Distribution, Gas Transmission, Natural gas transmission, Energy industries, Energy industry, Gas transmission industry, Dominion Resources Inc., D, CNG, Consolidated Natural Gas Co.

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