Originally published February 6, 2009 at 2:47 PM | Page modified February 6, 2009 at 2:58 PM
PrintPuget Energy's $7.4 billion sale completed
Puget Energy, the state's largest utility company, said Friday it has completed its sale to a consortium of Australian and Canadian investors...
By Seattle Times business staff
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Puget Energy, the state's largest utility company, said Friday it has completed its sale to a consortium of Australian and Canadian investors.
The $7.4 billion transaction pays existing stockholders $30 per share, and means the company's shares will no longer trade publicly.
The utility subsidiary, Puget Sound Energy, serves 1 million electric and nearly 750,000 natural gas customers in Western Washington.
The proposed deal was announced Oct. 26, 2007. Shareholders and the Federal Energy Regulatory Commission approved the sale in April 2008, and the Washington Utilities and Transportation Commission gave its go-ahead on Dec. 30.
Copyright © 2009 The Seattle Times Company
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