PUC Gives Lana’i Utilities to Ellison

From Maui TV News
Hawaii regulators have given their final approval to the indirect sale and transfer of ownership of Lanai’s three public utilities from David Murdock’s Castle & Cooke Inc. to Larry Ellison’s Lanai Island Holdings, the last step needed to complete the sale of the Pineapple Isle.

Last June, the Hawaii Public Utilities Commission gave its interim approval on the matter, which includes Manele Water Resources LLC, Lanai Transportation Co. Inc. and Lanai Water Co. Inc.

Ellison, the billionaire CEO of Oracle Corp. (Nasdaq: ORCL), asked for preliminary approval so that the sale could close as expected at the end of last June…

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