Conn.-based Northeast Utilities buys NStar for $5B

Hartford, Conn.-based Northeast Utilities has closed on its $5 billion purchase of a Boston-based energy company, creating one of the biggest U.S. utility companies.

The companies announced Tuesday morning that the purchase of NStar had closed. The newly combined company operates six electric and natural gas utilities serving 3.5 million customers in Connecticut, Massachusetts and New Hampshire.

It will continue to be called Northeast Utilities. NStar will be a Northeast Utilities subsidiary.

Dual headquarters of the company will operate in Hartford and Boston. The company employs 9,000 workers and becomes the largest utility in New England.

Read Full Article from The Associated Press

- Posted: 2012-04-10 10:33:42

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