Iowa Regulators Approve Black Hills Corporation's Purchase of Aquila's Iowa Properties
05 Settembre 2007 - 2:22PM
PR Newswire (US)
RAPID CITY, S.D. and KANSAS CITY, Mo., Sept. 5
/PRNewswire-FirstCall/ -- Black Hills Corporation (NYSE:BKH) and
Aquila, Inc. (NYSE:ILA) today announced that the Iowa Utilities
Board (IUB) gave its approval to the proposed acquisition by Black
Hills of Aquila natural gas utility assets and operations in the
State of Iowa. The IUB's approval came after the companies and the
state's Office of the Consumer Advocate reached a settlement
agreement. The agreement was filed with the commission on June 22,
2007 and was approved without conditions or modification. In
addition to Iowa, Black Hills also has proposed acquiring the
Aquila's electric assets in Colorado and its natural gas assets in
Colorado, Kansas and Nebraska. Black Hills and Aquila have filed
for regulatory approval in those states. David R. Emery, Chairman,
President and CEO of Black Hills Corporation, said, "We are pleased
to achieve this important milestone in the process to secure
regulatory approval of this transaction. Through the settlement
process, we received valuable input and cooperation from the Iowa
Office of Consumer Advocate. Iowa regulations provided for the
approval process to extend for several more months, if needed. We
are grateful that the IUB was able to conduct its thorough review
and reach a prompt decision to approve the transfer of Iowa gas
utility assets to Black Hills. The Iowa Utilities Board approval
recognizes that the public interests of ratepayers and communities
in that state will be served by this acquisition. Black Hills looks
forward to serving customers in Iowa, and will work diligently to
complete the requirements for obtaining regulatory approval by the
utility commissions in other states." ABOUT BLACK HILLS CORPORATION
Black Hills Corporation is an integrated energy company. Our retail
businesses are Black Hills Power, an electric utility serving
western South Dakota, northeastern Wyoming and southeastern
Montana; and Cheyenne Light, Fuel & Power, an electric and gas
distribution utility serving the Cheyenne, Wyoming vicinity. Black
Hills Energy, the wholesale energy business unit, generates
electricity, produces natural gas, oil and coal, and markets
energy. More information on Black Hills is available at
http://www.blackhillscorp.com/. ABOUT AQUILA Based in Kansas City,
Mo., Aquila owns electric power generation and operates electric
and natural gas transmission and distribution networks serving
approximately 900,000 customers in Colorado, Iowa, Kansas, Missouri
and Nebraska. In Iowa, Aquila serves approximately 146,000
customers in 130 communities. More information on Aquila is
available at http://www.aquila.com/. Additional Information and
Where to Find It In connection with the merger of Aquila with a
subsidiary of Great Plains Energy, Great Plains Energy filed with
the SEC a registration statement on Form S-4 (Registration No.
333-142715), containing a preliminary joint proxy
statement/prospectus and other relevant materials. The final joint
proxy statement/prospectus will be mailed to Aquila's stockholders.
AQUILA'S INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT
PROXY STATEMENT/PROSPECTUS AND THE OTHER RELEVANT MATERIALS WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT GREAT PLAINS ENERGY, AQUILA AND THE MERGER. The
registration statement and joint proxy statement/prospectus and
other relevant materials (when they become available), and any
other documents filed by Great Plains Energy or Aquila with the
SEC, may be obtained free of charge at the SEC's website at
http://www.sec.gov/. In addition, investors and security holders
may obtain free copies of the documents (when they are available)
filed with the SEC by Great Plains Energy by directing a request
to: Great Plains Energy, 1201 Walnut, Kansas City, MO 64106, Attn:
Investor Relations. Investors and security holders may obtain free
copies of the documents filed with the SEC by Aquila (when they are
available) by contacting Aquila, 20 West Ninth Street, Kansas City,
MO 64105, Attn: Investor Relations. Participants in Proxy
Solicitation Aquila and its executive officers and directors may be
deemed to be participants in the solicitation of proxies relating
to the proposed merger. Information regarding our executive
officers and directors and their ownership of our common stock is
set forth in the proxy statement for our 2007 Annual Meeting of
Stockholders, which was filed with the SEC on March 21, 2007.
Investors and security holders may obtain more detailed information
regarding the interests of Aquila and its executive officers and
directors in the merger by reading the joint proxy
statement/prospectus regarding the merger. DATASOURCE: Black Hills
Corporation CONTACT: Media, Al Butkus, +1-816-467-3616, or Media
Relations, +1-816-467-3000, both of Aquila; or Barbara Zar of Black
Hills Corporation, +1-605-721-2366; or Investor Relations: Jason
Ketchum, +1-816-467-3274, or Toll-free, 1-800-487-6661, both of
Aquila; or Dale Jahr of Black Hills Corporation, +1-605-721-2326
Web site: http://www.blackhillscorp.com/ http://www.aquila.com/
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