MidAmerican Energy Holdings Co. Acquires NV Energy for $5.6 billion

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According to the announcement, the current management of NV Energy will still include the current President and CEO Michael Yackira. He will retain the position, and the company will be operated as a separate subsidiary of MidAmerican Energy Holdings Co.

The legendary Warrant Buffett said that Hathaway Berkshire is pleased to make a long-term investment in Nevada’s economy. The CEO of NV Energy stated that the venture to combine MidAmerican Energy Holdings Co. with renewable resources of Nevada will offer great benefits to both the state and the consumers. As a matter of fact, NV Energy is already serving 1.3 million Nevada customers with gas and electricity utility services,

The takeover is still is a subject to closing conditions that include the approval of shareholders of NV energy, and approvals from the state and the federal government.

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