Buffett Buys Electricity Firm PacifiCorp for $5.1B - best electric toothbrush to buy

LONDON-unit of billionairesS.
Berkshire Hathaway (BRKA) has agreed to buy US shares. S.
Power company PacifiCorp is $ month.
1 billion from British utility Scotland Electric.
This is Buffett's largest acquisition since the acquisition of reinsurance company General Motors in 1998.
Under it, central U. S. energy (search), his Des Moines, Iowa-
Unit, will bear $4.
3 billion of net debt.
Report on the final accounts of the services provided by PacifiCorp (search.
Six 6 million clients in the western United StatesS. states.
Scottish Power said on Tuesday that while pacificmissing did not meet its target, the company's annual earnings were also higher than the market forecast.
5 billion of the proceeds were sold to shareholders, raising their shares by 9% to 479-
3/4 p, the highest level since September 2001.
Some analysts also said the sale could target Scottish power companies.
"For larger UK competitors, Scottish Power could be an attractive acquisition target," agent Cazenove said in a research report seen by Reuters.
Traders in London and Frankfurt also revealed rumors about Germany.
ON may be interested in the remaining powers in Scotland.
Buffett, the world's second richest man, lamented that he had no way to spend Berkshire's $46, Forbes reported.
7 billion of cash
Berkshire is known for its insurance holdings, and it also owns companies such as ice cream maker search and Loom underwear maker fruit.
"We are very happy to be able to do such a long time --
Through Central America, long-term investment in the West's leading energy companies.
"Pacific is a great company with outstanding assets," Buffett said in a statement . ".
He later told a news conference that he hopes to buy more energy assets over the next decade.
MidAmerican already owns CE Electric UK, a UK utility.
Fraser PacifiCorp, an analyst at Dutch International Group, said investors wanted to sell.
"We believe the market will respond positively to the news, which ends the ongoing uncertainty of Pacific companies," he said in a research report . ".
The utility sector has always been an attractive sector for predatory investors because the companies in the sector are profitable and have plenty of cash. flows.
Scottish Power acquired PacifiCorp for about $10 billion in 1999, and the UK company said the sale would result in an impairment fee of £ 0. 927 billion ($1. 7 billion). The U. S.
Electricity producers account for 50% of the company's total revenue, but have recently suffered losses due to bad weather and factory shutdowns.
On Tuesday, Scottish Power said that PacifiCorp had operating profits before goodwill amortization, with an abnormal project of $0. 914 billion for the year ended March 31.
Its target is $1 billion.
The Company believes that selling the Pacific is better than continuing to invest in the business to bring high returns.
Ian Russell, chief executive of Scottish Power, told reporters: "It turned out to be a tough year for PacifiCorp . " He added that the sale is not expected to lead to layoffs
Scottish Power also reported a 10% increase in pre-tax profits for goodwill and special projects for the year ended March 31, to 1.
£ 15 billion, the first time the company has made a billionpound profit.
Earnings per share (EPS) rose 10% to 40.
22 p, the leading market forecast, the total dividend rose 10% to 22. 50 pence.
CEO Russell said the sale of PacifiCorp could take 12 to 18 months to complete, adding that it is too early to say how Scottish Power will return the proceeds to investors.
PacifiCorp was originally prepared to give electricity to Scotland, the main factor in revenue growth.
Russell said that once the company sells the company, about 70% of its revenue will come from its infrastructure division that owns and manages the UK power network.
UBS and Morgan Stanley consulted on pacificsale's sale of Scottish Power.
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