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Tuesday, 03 September 2013 16:43

Laclede Gas finalizes large acquisition

ST. LOUIS (AP) - Laclede Gas Co. says it has finalized a $975 million deal to buy Missouri Gas Energy.

Laclede announced Tuesday that the purchase has been completed. The deal combines Missouri's two largest natural gas companies under one entity that will serve more than 1.1 million customers across the state.

St. Louis-based Laclede had served about 630,000 customers in St. Louis and 10 eastern Missouri counties. Missouri Gas Energy had served about 500,000 customers in about 30 western and central Missouri counties, including the Kansas City, St. Joseph and Joplin areas.

Laclede had announced the deal last December. State utility regulators approved it in July.

Published in Local News

Changes are afoot at St. Louis area casinos.

The Missouri Gaming Commission approved Pinnacle Entertainment's plan to buy Ameristar Casinos. Pinnacle will buy the St. Charles and Kansas City casinos. Pinnacle is the current owner of Lumiere Place and River City Casino. They now have to sell Lumiere to meet federal regulators' requirements.

Pinnacle hopes to secure a buyer in the coming weeks.

Published in Local News
Wednesday, 05 June 2013 13:41

AB InBev completes purchase of Grupo Modelo

NEW YORK (AP) - Anheuser-Busch InBev has completed its $20.1 billion purchase of Mexican brewer Grupo Modelo.

The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.

Constellation will sell Modelo brands including Corona in the U.S., effectively replacing Modelo as a competitor to AB InBev. AB InBev expects that deal to close Friday.

AB InBev, based in Belgium, sells Budweiser, Stella Artois and other beers. The combined company will also sell Corona and other Modelo brands outside the U.S.

Published in Local News

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