State OKs $60 million Pentex sale

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FAIRBANKS, Alaska - A deal for the Interior Gas Utility to buy Fairbanks Natural Gas' parent company, Pentex, has been approved by the state.
The IGU board of directors gave its approval for the purchase on Tuesday.
The state corporation that owns Pentex, the Alaska Industrial Development and Export Authority, met last night and signed off on the $60 million dollar sale.
The deal isn't yet final - it will close by May 31st of next year unless major problems arise between IGU and AIDEA.