First Reserve to buy Gas Natural for $196 mln

First Reserve has agreed to buy Gas Natural Inc for $13.10 a share or about $196 million. Mentor, Ohio-based Gas Natural, a holding company, distributes and sells natural gas to residential, commercial, and industrial customers. Janney provided financial advice to Gas Natural, while Kohrman Jackson & Krantz LLP is serving as legal counsel. Lazard served as financial advisor and Simpson Thacher & Bartlett LLP was legal counsel for First Reserve.

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