PHILADELPHIA (AP) - Moving to accelerate its growth in electricity operations, PPL Corp. said Tuesday it will buy the U.K.-based Central Networks electrical networks distribution business of Germany's E.On AG in a deal worth US$6.4 billion.
Allentown-based PPL said it would pay $5.6 billion, or 3.5 billion pounds, in cash and assume $800 million in debt. PPL and E.On expect to close the deal early next month.
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