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United States : MERGER WORK is in progress, said by CEO of Duke Energy.

Jim Rogers CEO, Duke Energy, said that, North Carolina regulators the merger with Progress Energy is progressing well two months after the deal creating the country's largest electric company was done.

On Friday, in a letter he also stated that, the state Utilities Commission that more than 1,100 workers chose to take voluntary buyouts and the jobs for the top three layers of managers are about two-thirds filled by people from the old Duke Energy, and the company s state headquarters is moving to Raleigh, also the Charlotte-based power company was able to borrow $1.2 billion at low rates in a bond sale.

Utilities regulators and North Carolina's attorney general are investigating Duke Energy over its surprise ouster of the Progress Energy CEO who was believed to take over the combined company.

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Publication:Mena Report
Date:Sep 3, 2012
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