Jul
13
Black Hills to Acquire GE-Backed SourceGas for $1.89 Billion
ByBlack Hills Corp. agreed to buy SourceGas Holdings LLC, a natural gas utility, for $1.89 billion from investment funds managed by General Electric Co. and Alinda Capital Partners LLC.
Black Hills will assume $720 million of debt when the deal closes, the Rapid City, South Dakota-based energy company said in a July 12 statement. The price is $1.74 billion, taking into account about $150 million of tax benefits from the transaction, according to the company.
The deal allows Black Hills to expand in Colorado, Nebraska, Wyoming and Arkansas. Utilities, facing depressed power prices, are pursuing acquisitions to cut costs and expand their regulated operations…
Black Hills to Acquire GE-Backed SourceGas for $1.89 Billion
