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 of earliest event reported): July 1, 1997
ORANGE AND ROCKLAND UTILITIES, INC.
(Exact name of Registrant as specified in its charter)
Incorporated in New York 1-4315 13-1727729
(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
One Blue Hill Plaza, Pearl River, New York 10965
(Address of principal executive offices) (zipcode)
Registrant's telephone number, including area code: (914) 352-6000
Items 1. - 4. Not Applicable.
Item 5. Other Events
On July 1, 1997, the Company issued the press release filed
herewith as Exhibit 99.7.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits
Exhibit 99.7 - Press Release of the
Company dated July 1, 1997.
Item 8. Not Applicable.
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 hereunto duly authorized.
ORANGE AND ROCKLAND UTILITIES, INC.
By:
Robert J. McBennett
Treasurer
Dated: July 1, 1997
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EXHIBIT INDEX
Page
Exhibit 99.7 4
Press Release of the Company dated July 1, 1997.
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EXHIBIT 99.7
NORSTAR MANAGEMENT NEGOTIATIONS WITH UGI ENERGY TERMINATED
Pearl River, NY, July 1, 1997 - Citing an inability to reach a
definitive purchase agreement with UGI Energy Services, Inc.,
NORSTAR Management, Inc., an indirect subsidiary of Orange and
Rockland Utilities, Inc., today announced that its transaction
with UGI has been terminated by mutual agreement. NORSTAR
Management, Inc., headquartered in Houston, TX, had entered into
a letter of intent for the sale of certain of the assets of
NORSTAR Energy Limited Partnership, a natural gas services and
marketing company, to UGI. As announced in mid-June, NORSTAR
intends to wind up the remaining portion of the partnership
business.
According to Orange and Rockland Vice Chairman and Chief
Executive Officer, D. Louis Peoples, "While we are disappointed
that this transaction did not reach fruition, we remain committed
to shedding NORSTAR as part of the Company's strategy to position
its operational and financial resources into selective
competitive markets as we enter into a deregulated era. To that
end, certain NORSTAR assets remain on the market."
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