Feds give OK; NV Energy-MidAmerica sale complete

AP News
Posted: Dec 19, 2013 5:54 PM

LAS VEGAS (AP) — Nevada's main electric utility says federal regulators have approved its sale to an Iowa company controlled by billionaire investor Warren Buffett.

NV Energy CEO Michael Yackira said in a statement Thursday that the deal with MidAmerican Energy Holdings Co. of Des Moines, Iowa, is complete.

Yackira says NV Energy will retain its name and keep serving its 1.3 million customers.

The Federal Energy Regulatory Commission and the U.S. Department of Justice gave the go-ahead Thursday for the $5.6 billion deal.

The Public Utilities Commission of Nevada gave its approval Tuesday.

MidAmerican Energy is a subsidiary of Omaha, Neb.-based Berkshire Hathaway Inc.

Buffett is the chairman and CEO of Berkshire Hathaway.

NV Energy Inc. is the parent company of Nevada Power Co. in Las Vegas and Sierra Pacific Power in northern Nevada.