SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of
earliest event reported): July 15, 1999
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
- ----------- ---------------------------------- ------------------
1-6047 GPU, Inc. 13-5516989
(a Pennsylvania corporation)
300 Madison Avenue
Morristown, New Jersey 07962-1911
Telephone (973) 455-8200
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ITEM 5. OTHER EVENTS.
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As previously reported, on July 2, 1999 GPU, Inc. ("the Company") entered
into a definitive agreement to acquire from Cinergy Corp. ("Cinergy") Cinergy's
50% stake in Avon Energy Partners Holdings ("Avon"), which indirectly owns
Midlands Electricity plc, for 452.5 million British pounds (approximately US
$700 million).
On July 15, 1999, the Company and Cinergy completed the purchase and sale
transaction, thereby giving the Company 100% ownership of Avon. The Company
financed a portion of the acquisition price through a bank credit facility
entered into by its subsidiary, EI UK Holdings, Inc., in the amount of 245
million British pounds (approximately US $380 million) with Citibank
International. GPU, Inc. has guaranteed US $100 million of that loan.
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SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
By: /s/ T. G. Howson
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T. G. Howson, Vice President
and Treasurer
Date: July 20, 1999
