By OGJ editors
HOUSTON, May 27 -- International energy firm Scottish Power PLC has agreed to sell its US utility PacifiCorp to MidAmerican Energy Holdings Co., Des Moines, for $9.4 billion, including $5.1 billion in cash and the assumption of $4.3 billion in net debt and preferred stock.
The acquisition will require regulatory approval from each of the six states in which PacifiCorp operates, action that is expected to take at least a year.
PacifiCorp will continue to operate under its current names and to be headquartered in Portland, Ore. It will operate as Pacific Power in Oregon, Wyoming, Washington, and northern California, and as Utah Power in Utah and Idaho.
