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Article: PNM Resources and Cascade Investment Agree to Create a New Unregulated Energy Company to Serve Growing Markets.
- Article from:
- Business Wire
- Article date:
- November 3, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Alliance Advances PNM Resources' Unregulated Growth Strategy
ALBUQUERQUE, N.M. -- PNM Resources, Inc. (NYSE: PNM) and Cascade Investment, L.L.C., the private investment vehicle for Microsoft founder Bill Gates and PNM Resources' second-largest shareholder, have agreed to create a new unregulated energy company that will serve expanding U.S. markets throughout the Southwest, Texas and the West. Under the terms of the agreement, PNM Resources and a Cascade Investment subsidiary each will have a 50 percent ownership interest in the new company, which temporarily will be named EnergyCo, LLC.
PNM Resources' unregulated strategy is focused on some of the ...