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UTILICORP CONFIRMS INITIAL PUBLIC OFFERING FOR PORTION OF AQUILA GAS PIPELINE CORPORATION

 KANSAS CITY, Mo., Sept. 1 /PRNewswire/ -- UtiliCorp United (NYSE: UCU) today confirmed that Aquila Gas Pipeline Corporation, an indirect subsidiary, has filed a registration statement with the U.S. Securities and Exchange Commission stating its intent to sell common stock via an initial public offering.
 Aquila Gas Pipeline Corporation, based in San Antonio, is the gas gathering and processing subsidiary of UtiliCorp's Omaha-based Aquila Energy subsidiary.
 The company will sell 5.4 million common shares, representing up to 20 percent of UtiliCorp's equity interest in Aquila Gas Pipeline Corporation.
 The underwriters are a syndicate led by Donaldson, Lufkin & Jenrette Securities Corporation and Goldman, Sachs & Co. The underwriters have an option to purchase up to 500,000 additional shares to cover any over- allotments of shares.
 Net proceeds from the offering are expected to range between $65 million and $75 million. Proceeds will be used to retire a short-term bank loan at Aquila Gas Pipeline Corporation.
 The initial public offering is another step that will enable Aquila Energy Corporation to move swiftly in response to strategic opportunities brought about by industry changes and the Federal Energy Regulatory Commission's industry restructuring rule -- Order 636.
 Based in Kansas City, UtiliCorp provides gas and electric service to more than a million customers in eight states, British Columbia and New Zealand. The company also is engaged in various non-regulated energy and utility related businesses in the United States and the United Kingdom.
 -0- 9/1/93
 /CONTACT: Roger Dick of UtiliCorp United, 816-691-3504/


CO: Utilicorp United ST: Missouri IN: UTI SU: OFR

PS -- NY012 -- 7790 09/01/93 08:56 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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