SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date earliest event reported) December 18,
1996
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
1-11299 ENTERGY CORPORATION 72-1229752
(a Delaware corporation)
639 Loyola Avenue
New Orleans, Louisiana 70113
Telephone (504) 529-5262
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Item 5. Other Information
Entergy Corporation
Entergy Corporation has announced a formal cash offer
totaling US$2.1 billion to acquire London Electricity plc,
the regional electric company serving approximately two
million customers within the London, England area. The
offer was announced by Entergy Power U.K. plc, a subsidiary
of Entergy Corporation.
London Electricity's board of directors has unanimously
recommended the offer to shareholders. The offer must now
be approved by the appropriate U.K. authorities. If no
obstacles impede the approval process, the acquisition could
be completed as early as March 1, 1997.
The $2.1 billion purchase price, which values London
Electricity shares at 705 pence per share, is based upon an
exchange rate of US $1.66 per pound. The cash purchase
price will be financed by approximately $1.7 billion of bank
financing, which will be non-recourse to Entergy
Corporation, in addition to $400 million of equity from
Entergy Corporation and its subsidiary, Entergy Power
International Development Corporation.
London Electricity's nearly two million customers
reside within its approximately 450-square-mile service area
in greater London, a city of some six million inhabitants.
The utility has approximately 4,400 employees.
Earlier this month, London Electricity released interim
results for the six months ended September 30, 1996. Among
the figures were gross revenues approximately of US $1
billion and net income of US$90.6 million.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
ENTERGY CORPORATION
By: /s/Louis E. Buck, Jr
Louis E. Buck, Jr.
Dated: December 18, 1996
