Tuesday, February 09, 2016

Report: Empire District Electric Company sold to Liberty Utilities

Empire District Electric Company has sold.

Liberty Utilities, a subsidiary of Algonquin Power & Utilities Corp. has purchased the Joplin-based company for $2.4 billion, according to The Street Insider, an online financial magazine.

The deal has to be approved by Empire stockholders and receive the approval of state and federal regulatory agencies, including those in Missouri, Arkansas, Kansas, and Oklahoma.

The deal is expected to close in the first quarter of 2017 and when it has been completed, Empire District Electric Company will completely owned by Liberty Utilities, and will no longer be a publicly held corporation.

No comments: