OGE completes buy of McClain stake - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

OGE completes buy of McClain stake

(Oklahoma City-AP) -- O-G-E Energy Corporation says its electric utility unit has completed a 160 (m) million-dollar transaction.

The purchase gives it a 77 percent stake in a McClain power plant.

The deal will give O-G-E control of the 520-megawatt plant in Newcastle. The plant was owned by N-R-G McClain L-L-C. The other 23 percent stake belongs to the Oklahoma Municipal Power Authority.

Shares of O-G-E closed up yesterday 23 cents at 25 dollars, six cents in trading on the New York Stock Exchange.
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