Southern Company asks to purchase stake in Florida Public Utilities

Southern Company has asked the Securities and Exchange Commission for permission to purchase 7.3% of Florida Public Utilities Company, a small electricity, gas and water distribution company in West Palm Beach.

The company will pay $3.6 million for 218,646 chares of FPU from Chesapeake Utilities Corporation, which owns the block of shares.

“If approved by the SEC, we will be able to purchase shares in a great company and increase our involvement in the rapidly growing Florida market,” said Allen Leverett, Southern Company vice president of financial planning and analysis.