Babcock & Brown Infrastructure Fund North America (BBIFNA) has agreed to buy
The Peoples Natural Gas Company and
Hope Gas natural gas distribution utilities located in Pennsylvania and West Virginia, for $910 million from
Dominion Resources. The $910 million figure is inclusive of working capital and capital expenditures.
The agreement is subject to regulatory approvals in Pennsylvania and West Virginia, as well as clearance under the federal Hart-Scott-Rodino Act and under the Exon-Florio provision of the Omnibus Trade and Competitiveness Act. The acquisition is also subject to certain purchase price adjustments.
