Coral to acquire Avista
Coral Energy, a subsidiary of Shell Trading, has agreed to acquire all operating assets of Avista Energy, the energy marketing and trading subsidiary of Avista Corporation. The acquisition agreement also includes the operating assets of Avista Energy Canada, which will be integrated into Coral Energy Canada. The transaction is expected to close by late second quarter or early in the third quarter of 2007.
Avista Energy will receive cash for assets acquired by Coral at approximately the book value
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