WKYT | Lexington, Kentucky | News, Weather, Sports

PPL to acquire E.On Kentucky utilities for $6.7B

ALLENTOWN, Pa. (AP) - Power company PPL has agreed to acquire
the parent company of Kentucky's two major utilities for $6.7
billion in cash.

PPL says it is buying E.On U.S. LLC, the parent of Louisville
Gas & Electric Company and Kentucky Utilities Company, from German
power company E.On AG.

PPL, based in Allentown, Pennsylvania, also will assume $925
million of debt. PPL also says it will get a tax benefit of about
$540 million.

PPL says revenue will total about $10 billion and serve nearly 5
million electricity customers in the U.S. and the U.K. after the
acquisition.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 92405694 - wkyt.com/a?a=92405694