Thursday, 3 March 2011

US firm strikes £3.5bn E.ON deal

American utility firm PPL has snapped up its second major UK electricity network after striking a deal worth £3.5 billion with Germany's E.ON.

The acquisition of the Central Networks business adds an electrical supply system serving five million customers in the Midlands, including Birmingham and Nottingham, through about 83,000 miles of overhead and underground cables.

Pennsylvania-based PPL already owns Western Power Distribution, which provides regulated distribution through 52,000 miles of power lines to 2.6 million customers in South-West England and South Wales.

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