August 25, 2011 / 1:27 PM / 6 years ago

UPDATE 1-Just Energy unit to buy US private co for $79.4 mln

* Says it expects deal to add to results on adj basis in 2012

* Expects deal to close on or about Oct. 1 (Follows alerts)

Aug 25 (Reuters) - Canada’s Just Energy Group Inc on Thursday said its unit will buy a privately held U.S. retail electricity provider for about $79.4 million.

The unit, Just Energy Corp, will also pay Texas-based Fulcrum Retail Holdings LLC up to $20 million 18 months after the deal closing.

Just Energy expects the transaction to be funded with its cash and other working capital. It sees the deal adding to its results on an adjusted basis in 2012.

The companies expect to close the deal on or about Oct. 1, 2011.

Shares of Toronto, Ontario-based Just Energy, which sells natural gas and electricity to residential and commercial customers in Canada and Texas, closed at C$12.71 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below