February 19, 2008
ME's PUC to consider sale of natural gas co.
Public utility holding company Unitil Corp., based in Hampton, N.H., has agreed to purchase Westborough, Mass.-based Northern Utilities Inc., which services 52,000 customers in Maine and New Hampshire.
Unitil purchased the natural gas distributor Northern Utilities, along with Granite State Gas Transmission Inc., from Indiana-based NiSource Inc. for $160 million plus an estimated $25 million in working capital, according to a press release. Maine and New Hampshire's Public Utilities Commissions must approve the transaction, which is expected to close by the fourth quarter of 2008.
Unitil purchased the natural gas distributor Northern Utilities, along with Granite State Gas Transmission Inc., from Indiana-based NiSource Inc. for $160 million plus an estimated $25 million in working capital, according to a press release. Maine and New Hampshire's Public Utilities Commissions must approve the transaction, which is expected to close by the fourth quarter of 2008.
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