PPL Corp. buys Kentucky Utilities

29 April 2010 – PPL Corp. agreed April 28 to acquire E.ON US. LLC, the parent company of Louisville Gas & Electric Co. and Kentucky Utilities Co., for $7.625 billion. Taking into account tax benefits, the effective purchase price is $7.175 billion.

The acquisition will put PPL in control or ownership of about 20,000 MW of the U.S. electricity generating capacity. 

The acquisition still needs approval from state regulators in Kentucky, Tennessee and Virginia along with the Federal Energy Regulatory Commission. 

The transaction is expected to close by the end of the year.

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