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Article: NORTH COAST ENERGY and NUON INTERNATIONAL bv Take First Steps Under Stock Purchase Agreement
- Article from:
- PR Newswire
- Article date:
- September 8, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. 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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CLEVELAND, Sept. 4 /PRNewswire/ -- NORTH COAST ENERGY, INC. (Nasdaq: NCEB) announced today that it has completed the sale of NORTH COAST common stock to NUON INTERNATIONAL bv pursuant to the previously announced stock purchase agreement. Under the terms of the agreement NUON will invest up to $15 million in NORTH COAST and NUON has purchased approximately 5.7 million shares of NORTH COAST Common Stock for $5 million at the closing. Messrs. Leo Blomen, Jos Smits and Saul Siegel joined NORTH COAST's Board of Directors. NUON, the second largest utility in the Netherlands servicing 2.5 million customers, becomes NORTH COAST ENERGY's largest share owner.
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