MVC Private Equity Fund has sold its stake in US independent energy supplier Plymouth Rock Energy to Engie Resources. Financial terms of the deal were not disclosed. The fund said it had invested $US1 billion ($A1.06 billion) into Plymouth, which is based on Australia's east coast. Natural gas and power supplier Plymouth Rock Energy, based in Woodmere, New York, has 465,000 residential customer equivalents in New York, New Jersey, Pennsylvania, Maryland, Ohio, Illinois and Massachusetts. Engie said the deal will expand its market share in New York and it give it a much larger presence down-state.
MVC Private Equity Fund has sold its stake in US independent energy supplier Plymouth Rock Energy to Engie Resources. Financial terms of the deal were not disclosed. The deal is subject to regulatory approval and is expected to close by the end of November. Natural gas and power supplier Plymouth Rock Energy, based in Woodmere, New York, has 465,000 residential customer equivalents in New York, New Jersey, Pennsylvania, Maryland, Ohio, Illinois and Massachusetts. Engie said the deal will expand its market share in New York and it give it a much larger presence down-state.