Wash. Regulators OK Puget Energy Takeover

Law360, New York (December 31, 2008, 12:00 AM EST) -- Washington state energy regulators have approved the sale of Puget Energy Inc., the state's largest electric and natural gas utility, to a private equity group led by Australian and Canadian investors.

The three-member Washington Utilities and Transportation Commission voted 2-1 on Tuesday to approve a July settlement signed by Puget Energy, the private investors, the commission staff and citizens' groups. The commission's approval of the settlement allows the approximately $7.4 billion deal to go through, the last step in Puget Holdings LLC's takeover of the utility....
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