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Article: LG&E Energy Corp. Completes Acquisition in Argentina; New Initiative Announced in Natural Gas Distribution Company.
- Article from:
- PR Newswire
- Article date:
- March 30, 1999
CopyrightCOPYRIGHT 1999 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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LOUISVILLE, Ky., March 30 /PRNewswire/ -- LG&E Energy Corp. (NYSE: LGE) announced today that it has acquired 28 percent of Invergas, S.A., the controlling entity that holds 70 percent of Gas Natural BAN, S.A. (GasBAN). GasBAN is a natural gas distribution company serving 1.1 million customers in the northern part of the province of Buenos Aires, Argentina. This acquisition marks LG&E Energy's third major investment in the Argentine gas distribution market and advances the company's strategy of investing in low- risk international developments with attractive earnings.
"Gas Natural BAN is a well-managed company and has been a strong financial performer. The ...