Berkshire Hathaway and Warren Buffett have agreed to acquire NV Energy in early 2014. Sen. Harry Reid is excited to help.
There’s no question that Warren Buffett – billionaire investor – is currently seeing dollar signs in Nevada. Buffett and company just offered $10 billion to acquire NV Energy, Inc. The deal will essentially create the biggest utility holding company in the United States of America. MidAmerican Energy, Berkshire Hathaway subsidiary, will complete this deal by early 2014.
At the time of this writing, MidAmerican Energy Holdings owns several big utility and energy companies. The companies include PacifiCorp, MidAmerican Renewals, MidAmerican Energy Company and Northern Natural Gas. The latest soon-to-be acquisition, NV Energy, has two subsidiaries of its own. They are Sierra Pacific Power Company and Nevada Power Company. Both of these subsidiaries are currently operating under the NV brand. If this deal is approved by regulators, Berkshire Hathaway will add another 2.4 million customers to its energy rolls.
“This is a great fit for Berkshire Hathaway,” said Buffett in a press release once this deal was announced this past May. “We are pleased to make a long-term investment in Nevada’s economy.”