Feds give OK; NV Energy-MidAmerica sale complete

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Updated: 12/20/2013 12:18 am

LAS VEGAS (AP) — Nevada's main electric utility says federal regulators have approved its sale and merger to an Iowa company controlled by billionaire investor Warren Buffett.

NV Energy Inc. chief Michael Yackira said in a statement Thursday that the deal with MidAmerican Energy Holdings Co. of Des Moines, Iowa, was complete.

Yackira says NV Energy will retain its name and keep serving its 1.3 million customers.

The Federal Energy Regulatory Commission and U.S. Department of Justice gave the go-ahead Thursday for the $5.6 billion deal.

The Public Utilities Commission of Nevada gave its approval on Tuesday.

MidAmerican Energy is a subsidiary of Omaha, Neb.-based Berkshire Hathaway Inc.

Buffett heads Berkshire Hathaway.

NV Energy is the parent company of Nevada Power Co. in Las Vegas and Sierra Pacific Power in northern Nevada.

 

©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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