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Utility nabbed from under Warren Buffett's nose

In the final hour, natural gas company outbid Berkshire Hathaway's offer on Oncor by USD 450 million.

Photo: Ellevio
BY

The sale of Texan energy company Oncor ended with a surprise twist.

Californian utility Sempra Energy, which mainly works in natural gas, has landed a deal with Oncor's de-facto owner Energy Future shortly before the bidding deadline, reports Sempra Energy, writing that transaction concerns a cash purchase of USD 9.45 billion, valuing Oncor at USD 18.8 billion including debt.

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European Energy: Danish government runs risk of doing major harm to PtX

Foto: Gregers Tycho/ERH

In the first quarter, European Energy has signed a deal concerning construction of a new PtX facility in the city of Aalborg as the most recent move in the third prong of activities, which primarily consist of solar and wind energy. But the company’s CEO warns of political short-sightedness.

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