Transactions (September 2013)
TECO acquires New Mexico Gas; Direct Energy acquires Bounce Energy; Duke floats $500 million in two tranches; plus debt deals from PPL Electric and Southern Power.
Continental Energy Systems
TECO Energy Seeks Acquisition Approval from New Mexico Public Regulation Commission
Submitted by aburr on Tue, 2013-07-23 15:49TECO Energy filed its application with the New Mexico Public Regulation Commission (PRC) for approval of its acquisition of New Mexico Gas. The application was filed jointly with New Mexico Gas Co. and its parent company, Continental Energy Systems. A decision by the PRC is expected by early 2014. In May, TECO Energy entered into a definitive stock purchase agreement with Continental Energy Systems to acquire New Mexico Gas Co. for a purchase price of $950 million, subject to customary closing adjustments.