Sector News

Black Hills buys GE-backed SourceGas for $1.89billion

July 13, 2015
News
Black Hills has agreed a $1.89billion deal to buy GE-backed SourceGas Holdings.
 
The pay-out will see South Dakota-based Black Hills assume $720million of debt. The firm said the deal will fuel its expansion into Colorado, Nebraska, Wyoming and Arkansas.
 
A company spokesman said: “The transaction will add meaningfully to Black Hills’ earnings per share beginning the first calendar year after closing.”
 
GE’s energy financial-services division and Alinda Capital Partners bought SourceGas in 2007.
 
The natural gas utility firm has 425,000 customers and a 512-mile (824- kilometer) transmission pipeline in Colorado. The takeover will see Black Hills’ customer base total more than 1.2 million.
 
By Rita Brown
 
Source: Energy Voice

Related News

August 23, 2019

The higher purpose of being a CEO

Borderless Leadership

LinkedIn Twitter Xing EmailWhen I left my second large company experience to become President of a small manufacturing company I did so driven by ego; I fancied the title. Soon […]

August 23, 2019

As Brexit nears, Britain’s drugs, devices and pricing regulators seek the exit

Life sciences

LinkedIn Twitter Xing EmailFirm details on exactly how the U.K. will regulate new medicines is still to be decided after it leaves the EU later this year (caveats on timing […]

August 23, 2019

The Simply Good Foods Company acquires Quest Nutrition for $1bn

Food & Drink

LinkedIn Twitter Xing EmailThe Simply Good Foods Company, the owner of Atkins-branded food products, has secured a deal to acquire protein snack maker Quest Nutrition for $1 billion. Quest, which […]

Send this to a friend