Citizens Utilities agrees to acquire gas distribution system.STAMFORD, Conn.--(BUSINESS WIRE)--May 30, 1997--Citizens Utilities announced today that it has agreed to acquire the natural gas distribution system owned by St. John the Baptist Parish, Louisiana St. John the Baptist Parish (French: Paroisse de Saint-Jean-Baptiste) is a parish located in the U.S. state of Louisiana. In 2000, its population was 43,044. The parish seat is Edgard. Geography The parish has a total area of 901 km² (348 mi²). . The purchase price is $2.1 million. Upon completion of the transaction, the system, which serves 2,250 customers, will become part of Citizens' Louisiana Gas Service division. The sale was approved by the St. John Parish Council on May 13. Parish voters will be asked to approve the sale at an election to be held July 21 and the Louisiana Public Service Commission Louisiana Public Service Commission (LPSC) is an independent regulatory agency serving the public of Louisiana by managing its public utilities and motor carriers. It is the successor to the Railroad Commission of Louisiana. will be asked to ratify the transaction in early fall. The parties expect to complete the transaction by October 31, 1997. J. Michael Love, head of Citizens Public Services Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. , which operates Citizens' natural gas, electric, water and wastewater treatment operations, said, "We are very pleased to have reached an agreement with the Parish. This acquisition is a natural fit with our existing gas operations in the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. corridor between New Orleans and Baton Rouge." Citizens' Louisiana Gas Service division currently provides natural gas service to approximately 264,000 customers. Council Chairman Duaine Duffy supports the Citizens offer, stating, "I'd like to firmly endorse the sale of the gas system. I feel it's a very good, very fair offer and it ensures that our citizens are being serviced at the best possible rate." Citizens Utilities (NYSE NYSE See: New York Stock Exchange : CZNA, CZNB) is a full-service telecommunications company with utility assets serving 1.6 million customers throughout the United States. Citizens also owns Electric Lightwave, Inc., a competitive telecommunications provider in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . For more information on Citizens, visit our Web site at http://www.czn.net CONTACT: Brigid Smith 203/329-5042 bsmith@czn.com |
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