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Powergen Company

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April 10, 2001 | Associated Press
German utility E.On said it agreed to buy British rival Powergen for $7.4 billion in a bid to become the world's second-largest power company and gain a foothold in the U.S. electricity market. E.On will also assume about $6.4 billion in debt from Powergen, Britain's third-largest power generator. If the plan clears regulatory hurdles, E.On will become a transatlantic giant, with 30 million customers and electricity sales of 323 billion kilowatt hours, moving ahead of American Power Co.
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BUSINESS
April 10, 2001 | Associated Press
German utility E.On said it agreed to buy British rival Powergen for $7.4 billion in a bid to become the world's second-largest power company and gain a foothold in the U.S. electricity market. E.On will also assume about $6.4 billion in debt from Powergen, Britain's third-largest power generator. If the plan clears regulatory hurdles, E.On will become a transatlantic giant, with 30 million customers and electricity sales of 323 billion kilowatt hours, moving ahead of American Power Co.
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