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Six weeks after the proposed transaction had obtained requisite approvals from regulators in Maine, Montana, and Ohio, the North Carolina Utilities Commission (NCUC) gave the final assent needed for the acquisition of a multistate natural gas local distribution company (LDC) by an investment fund entity. The complex arrangement provides for the LDC, Gas Natural Inc. (GNI), to become an indirect subsidiary of ultimate parent company BlackRock Inc.
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