Nevada utility's sale to MidAmerican OK'd

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Posted: Monday, December 16, 2013 12:00 am | Updated: 1:52 am, Tue May 20, 2014.

CARSON CITY, Nev. (AP) — Nevada utility regulators have approved the sale of the state's largest electric utility to a company owned by billionaire Warren Buffett.

The Public Utilities Commission on Monday approved the $5.6 billion deal for Buffett's MidAmerican Energy to buy NV Energy Inc.

The deal still requires approval by the Federal Energy Regulatory Commission and is expected to be finalized early next year.

NV Energy has 2.4 million customers and is the parent company of Nevada Power Co. in Las Vegas and Sierra Pacific Power in northern Nevada.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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