The sale is in line with Nuon’s strategy of focusing on energy activities in its core countries – the Netherlands, Belgium and Germany. The transaction will realize a modest book profit, the company said.
The turnover of Utilities Inc. was $90 million in 2005 and the company has about 300,000 customers in 17 American states, mainly Florida and North and South Carolina.
Hydro Star is a subsidiary of AIG Highstar Capital, a private equity fund which invests in infrastructure-related assets and is sponsored by global insurance giant AIG’s Global Investment Group.
