Niagara Mohawk up 12% on National Grid buyout plan

WESTBOROUGH, MA and SYRACUSE, NY, Sept. 5, 2000 — As expected, National Grid Group PLC Tuesday increased its stake in the US electric utility business by agreeing to buy Niagara Mohawk Holdings Inc. in a cash and stock deal valued at $3 billion. National Grid will also assume Niagara’s $5.9 billion debt.

HOUSTON, Sept. 7, 2000 — Duke Energy North America (DENA) recently sold the Attala Energy, 500 MW merchant power facility under construction in central Mississippi to PG&E National Energy Group for an undisclosed sum. The sale is subject to regulatory approval and is expected to close by the end of third quarter.

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