Published:
Great Plains Energy and Black Hills Corporation Close Aquila Transaction
RAPID CITY, S.D. andKANSAS CITY, Mo., July 14 /PRNewswire-FirstCall/ --
Black Hills Corp. (NYSE: BKH) and Great Plains Energy Incorporated
(NYSE: GXP), announced that the formal closing of their asset purchase and
merger of Aquila, Inc. is expected to occur at or about 10:00 am Central Time
today. It will be effective for legal purposes at that time. It was effective
for accounting and operational purposes at 12:01 am Central Time today.
With the closing of the sale, Aquila's natural gas and electric utilities
inColorado,Iowa,Kansas andNebraska are acquired by Black Hills
Corporation. Aquila'sMissouri electric utilities, stock and other corporate
assets are acquired by Great Plains Energy. Both companies will issue
separate news releases with specific details later today.
ABOUT GREAT PLAINS ENERGY
Great Plains Energy, headquartered inKansas City, Mo., is the holding
company for Kansas City Power & Light, a leading regulated provider of
electricity in the Midwest. The company's Web site is
http://www.greatplainsenergy.com.
ABOUT BLACK HILLS CORPORATION
Black Hills Corporation is a diversified energy company. Its utility
businesses serve westernSouth Dakota, northeastern and southeasternWyoming,
and southeasternMontana. The corporation's non-regulated energy businesses
generate electricity, produce natural gas, oil and coal, and market energy.
Learn more at http://www.blackhillscorp.com.
FORWARD-LOOKING STATEMENTS
This news release includes "forward-looking statements" as defined by the
Securities and Exchange Commission, or SEC. We make these forward-looking
statements in reliance on the safe harbor protections provided under the
Private Securities Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this release that address
activities, events or developments that we expect, believe or anticipate will
or may occur in the future are forward-looking statements. These
forward-looking statements are based on assumptions which we believe are
reasonable based on current expectations and projections about future events
and industry conditions and trends affecting our business. However, whether
actual results and developments will conform to our expectations and
predictions is subject to a number of risks and uncertainties that, among
other things, could cause actual results to differ materially from those
contained in the forward-looking statements, including the risk factors
described in Item 1A of Part I of our 2007 Annual Report on Form 10-K filed
with the SEC, Item 1A of Part II of our March 31, 2008 Quarterly Report on
Form 10-Q, and the following:
* Any action taken by the interveners in the Missouri Public Service
Commission proceeding regarding the approval of the merger of Aquila
and Great Plains Energy intended to delay, disrupt or prevent the
closing of the transaction.
* Other factors discussed from time to time in our other filings with the
SEC.
New factors that could cause actual results to differ materially from
those described in forward-looking statements emerge from time to time, and it
is not possible for us to predict all such factors, or the extent to which any
such factor or combination of factors may cause actual results to differ from
those contained in any forward-looking statement. We assume no obligation to
update publicly any such forward-looking statements, whether as a result of
new information, future events, or otherwise.
SOURCE Black Hills Corporation; Great Plains Energy Incorporated
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Oil, Gas and Energy, Utilities, Banking and Finance, , south dakota, missouri
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