Tuesday, February 09, 2016

Canadian company enters into deal to buy Empire District Electric

When first reports of a buyer for Empire District Electric surfaced, it appeared the Joplin-based company was going to be sold to a company from the United Kingdom.

Customers will not have to go that far to find the reported new owners, but they still are located beyond the borders of the United States.

Algonquin Power and Utilities Corp., whose subsidiary Liberty Utilities reportedly is buying Empire District Electric for $2.4 billion, is based in Oakville, Canada.

The Empire purchase is not the first in the Show-Me State for Liberty Utilities, which bought Atmos Energy in Missouri in 2012, and has also bought companies in Illinois, California, Iowa, Georgia, Arkansas, Texas, Massachusetts, and New Hampshire.

1 comment:

Anonymous said...

Tax inversion?