Iowa’s largest utility is being purchased by an investor group in a dealworth about nine-BILLION dollars. Des Moines-based MidAmerican EnergyHoldings Company is being bought by the group led by Berkshire Hathaway, runby billionaire investment tycoon Warren Buffet of Omaha. MidAmericanchairman and C-E-O David Sokol.Sokol says no management changes are planned, no employee reductions willresult from the transaction and the company’s name will stay MidAmerican.MidAmerican has more than a half-million electric customers in Iowa alone.MidAmerican Chief Operating Officer Gregory Abel says customers will noticeno changes with the buyout, while he says the employees and stockholders areexcited about the move.In March, MidAmerican merged with CalEnergy. The new company has more thantwo-point-two million electric customers and one-point-two million naturalgas customers in the U-S and in the United Kingdom.
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