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Article: Mirant Announces Agreement for Sale of Caribbean Business.
- Article from:
- PR Newswire
- Article date:
- April 18, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, April 18 /PRNewswire-FirstCall/ -- Mirant Corporation announced today that it has entered into a definitive purchase and sale agreement with a subsidiary of Marubeni Corporation for the sale of its Caribbean business for $1.082 billion, which includes related debt of approximately $350 million, power purchase obligations of approximately $153 million and estimated working capital at closing. The net proceeds to Mirant from the sale are expected to be approximately $565 million after payment of transaction costs estimated to be approximately $14 million. Upon completion of the transaction, Mirant expects to realize a pre-tax gain of approximately $65 million for ...