Iberdrola USA Inc., a unit of Spain's Iberdrola SA, has completed the sale of two natural gas distribution companies in Connecticut and one in Massachusetts to UIL Holdings Corp. in a deal valued at about $1.25 billion after adjustments. The sale involves Connecticut Natural Gas Corp., The Southern Connecticut Gas Co. and The Berkshire Gas Co. The companies distribute approximately 56.5 Bcf gas per year to nearly 369,000 customers in Connecticut and Massachusetts, and have a combined workforce of about 800. The deal was announced last May (see Daily GPI, May 26).
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