ScottishPower Welcomes FERC Approval of PacifiCorp Merger
17 June 1999
ScottishPower welcomes the decision by the Federal Energy Regulatory Commission, to approve the Company's proposed merger with PacifiCorp.
Commenting upon the announcement Ian Russell, ScottishPower's Deputy Chief Executive and Finance Director said:
"We are delighted that the FERC has given approval for the proposed merger with PacifiCorp. As we said at the outset of the transaction we did not foresee any issues which would give rise to a substantial concern for the FERC.
We have already secured the necessary regulatory approvals in the UK and Australia and at the Californian state level. ScottishPower shareholders have overwhelmingly supported the transaction and approval from PacifiCorp shareholders is expected at their Annual Meeting to be held on Thursday 17 June.
We are working closely with the State regulatory bodies and expect to complete the transaction later in the year."
For Further Information:
Sue Clark
Director of Corporate Affairs 0141 636 4560
Andrew Jamieson
Investor Relations Manager 0141 636 4527
Colin McSeveny
Group Media Relations Manager 0141 636 4515