Centrica PLC
21 August 2000
COMPLETION OF ACQUISITION OF DIRECT ENERGY
IN NORTH AMERICA
On 6th July 2000 Centrica announced that it had agreed with
the trustees of the Direct Energy Income Fund an offer to
acquire its North American energy supply business, Direct
Energy Marketing Limited ('Direct Energy'). In addition,
Centrica had agreed to purchase the assets of Direct
Energy's primary marketing agent, Natural Gas Wholesalers,
which provides marketing and call centre services to Direct
Energy and Energy America L.L.C (a joint venture in which
Direct Energy has an interest). The total consideration
including assumption of debt was C$912m/£406m.
At a meeting on 18th August 2000, unit holders
overwhelmingly approved the transaction, which, following
receipt of all other regulatory consents, completed later
that day.
For further information contact:
Investor Relations: IR@centrica.co.uk
Chris Milburn +44(0)1753 758114
Media Relations: Media@centrica.co.uk
Neville Barltrop +44(0)1753 758444
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