PPL To Buy More E.ON Assets In $5.6B UK Utility Deal

Law360, New York (March 2, 2011, 1:57 PM EST) -- PPL Corp. said Tuesday it would buy the U.K's second-largest power generation business, Central Networks, from E.ON AG for $5.6 billion, a deal that marks the German energy giant's second major sale to the Pennsylvania-based utility.

PPL also will assume $800 million in public debt, although the purchase is expected to add to its per-share earnings in 2011 and increase them significantly by 2013, the company said.

PPL said it has $3.6 billion in acquisition financing in place from Bank of America Merrill Lynch and Credit...
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