Source Pravda.Ru

MidAmerican Marches Forth With Dynergy Pipeline Purchase

Dynegy has agreed to sell a natural-gas pipeline for $1.88 billion in cash and assumed debt to MidAmerican Energy Holdings, a unit of Warren Buffett's Berkshire Hathaway Inc. that has been buying energy assets in the recent past.

MidAmerican will pay $928 million in cash and assume $950 million in debt to acquire the 16,600-mile (26,700-kilometer) Northern Natural Gas pipeline system, which runs from Texas to the Great Lakes, the companies said.

Dynegy acquired Northern from Enron for $1.5 billion in cash and $950 million of assumed debt. It is selling assets after energy trading declined and credit dried up. The purchase is the second this year for MidAmerican, which also in March paid $960 million to Williams for the Kern River gas pipeline.

Buffett is “picking them off one by one,” said Allan J. Meyers, who manages a billion dollars in the Fifth Third Large Cap Value Fund and has sold his Dynegy shares. “He's getting this on the cheap.”

©

&to=http://www.dynegy.com/' target=_blank>DYNEGY

&to=http://www.midamerican.com/' target=_blank>MidAmerican Energy Holdings

Comments
MP suggests replacing Lenin's mummy with rubber figure
Moving inexorably towards war
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Brexit: The UK's misunderstanding of Democracy
The Amazon and the New Conquistadores
The Amazon and the New Conquistadores
Russians lose faith in their future, get ready for worse
Without INF Treaty, USA can destroy Russian nuclear weapons easily
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Without INF Treaty, USA can destroy Russian nuclear weapons easily
USA plays to pretend a mighty dragon that can no longer breathe fire
USA plays to pretend a mighty dragon that can no longer breathe fire
Putin sees no drama if Russia misses Davos forum
Macron challenges Trump. French independence and croissants at stake
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Moving inexorably towards war
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin dislikes the idea of US army bases coming to Kuril Islands
Putin sees no drama if Russia misses Davos forum
How can Americans and Russians understand each other?