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Atmos Energy gets go-ahead to buy TXU gas ops for $1.9bn

Texas-based natural gas company Atmos Energy is set to buy the gas distribution and pipeline operations of TXU Gas, the largest gas utility in Texas, on October 1. TXU Gas will still exist as part of TXU Corp, a non-regulated retail electricity provider – only the assets will transfer to Atmos.

    • Joe Marsh
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Yesterday Atmos received the third and final state approval it needs for the purchase from the Missouri Public Service Commission (PSC). The Missouri PSC’s approval follows those from the regulatory commissions in Iowa and Virginia. Atmos has utility divisions in the other states, so needs approval from them.

Atmos will pay fellow Dallas company TXU $1.925 billion in cash. It will finance the purchase, which was first announced on June 17, with an interim senior credit facility led by

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