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Warren Buffett bets big on power with $9-billion Oncor deal

With this, Berkshire Hathaway steps up its pursuit of steady profits from utilities and infra deals


Warren Buffett's Berkshire Hathaway Inc said on Friday it agreed to pay $9 billion to buy the parent of Texas power transmission company Oncor Electric Delivery Co, stepping up its pursuit of steady profits from utilities and infrastructure deals. If the all-cash purchase wins approval from federal and state regulators and a bankruptcy judge, Buffett's Berkshire Hathaway Energy unit will assume control of one of the largest US electricity transmission companies. "Buffett views infrastructure bets as a good long-term investment," said Steven Check, president of ...

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First Published: Sat, July 08 2017. 05:03 IST