A unit of billionaire U.S. investor Warren Buffett’s Berkshire Hathaway Inc. has agreed to buy U.S. electricity firm PacifiCorp for $5.1 billion from British utility Scottish Power Plc.
MidAmerican Energy, his Des Moines, Iowa-based unit, will assume $4.3 billion of net debt. PacifiCorp provides services to 1.6 million customers in six western U.S. states.
The acquisition is Buffett’s largest since he bought reinsurer General Re Corp in 1998.
