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Article: Indiana Energy to Acquire DPL's Natural Gas Distribution Business.
- Article from:
- PR Newswire
- Article date:
- December 16, 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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INDIANAPOLIS, Dec. 15 /PRNewswire/ -- Indiana Energy (NYSE: IEI) today announced that its board of directors has approved a definitive agreement under which Indiana Energy will acquire DPL Inc.'s ("DPL") (NYSE: DPL) natural gas distribution business for $425 million in cash. This acquisition of assets is expected to be accounted for as a purchase and is anticipated to be slightly accretive to earnings in the first full year after closing, excluding one-time charges related to the transaction.
The acquisition of DPL's natural gas distribution business will add approximately 305,000 residential, commercial, industrial, and government customers to Indiana Energy's ...