Puget Energy granted FTC approval for proposed buyout

By Jennifer Lanning Drey

Portland, Ore., Aug. 5 - Puget Energy Inc. has received antitrust approval from the U.S. Federal Trade Commission to move forward with its proposed $7.8 billion buyout by a consortium of investors led by Australia's Macquarie Infrastructure Partners, FTC spokesperson Mitch Katz said Tuesday.

The transaction still requires final approval from the Washington Utilities and Transportation Commission's three-member panel of commissioners, who are reviewing testimony submitted by the public counsel section of the Washington attorney general's office in response to testimony filed last week in support of a settlement agreement related to the transaction.

As previously reported, the WUTC has scheduled regulatory approval hearings for Aug. 25 through Aug. 27.

Puget Energy is the Bellevue, Wash., parent company of Puget Sound Energy.

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