Duke Energy International, LLC (DEI) acquired Broken HillProprietary Company Ltd.’s power business (BHP Power) for $315million. The purchase will establish DEI as an industrial energyfacility operator in the emerging competitive Australianelectricity market.

The BHP Power acquisition includes almost 400 MW of powergeneration and transmission assets in Western Australia and NewZealand; an 11.8% interest in the 600-mile Goldfields GasTransmission Pipeline in Western Australia; a development proposalfor a co-generation plant at BHP’s Port Kembla operations; and aportfolio of international and Australian-based projects that aresubject to the approval of BHP’s joint venture partners. Thetransaction is expected to close in early 1999.

In November, Paul Anderson said he was leaving the post ofpresident and chief operating officer of Duke Energy to becomemanaging director and CEO of BHP. See Daily Nov. 5) A Dukespokesman said Duke was involved in bidding for BHP Power beforeAnderson’s departure, but Anderson was not directly involved innegotiations to acquire BHP.

©Copyright 1998 Intelligence Press Inc. All rights reserved. Thepreceding news report may not be republished or redistributed, inwhole or in part, in any form, without prior written consent ofIntelligence Press, Inc.