Southern Company only bid for New Power
By
Posted 8:05AM on Tuesday 9th July 2002 ( 22 years ago )
ATLANTA - Southern Company's $60 million offer to purchase the natural gas operations of New Power Company in Georgia was the only one to meet a deadline for bids. <br>
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That means the state's fourth-ranked gas marketer will ask U.S. Bankruptcy Court Judge W. Homer Drake to approve the purchase during a hearing Friday in Newnan, south of Atlanta. <br>
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The deal also is subject to approval by the state Public Service Commission. The PSC has scheduled a public hearing July 16th on certification for Southern Natural Gas, a newly formed subsidiary of the Atlanta-based utility holding company. <br>
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The PSC will vote July 19th whether to allow Southern Company to take over New Power's 210,000 Georgia gas customers on August 1st.
http://accesswdun.com/article/2002/7/192712
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