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Article: NRG Energy, Inc. Completes Sale of Its Ownership Interest in MIBRAG.
- Article from:
- Mining & Minerals Business
- Article date:
- July 3, 2009
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NRG Energy, Inc. (NYSE: NRG) completed the sale of its 50% ownership interest in mining company Mibrag B.V. to a consortium of Severoceske doly Chomutov, the largest brown coal mining company in the Czech Republic and member of the CEZ Group, and J&T Group, a Czech Republic-based investment company. Mibrag B.V.'s principal holding is Mitteldeutsche Braunkohlengesellschaft mbH (MIBRAG), an integrated coal mining and power generating business located in central Germany. Total proceeds received, including purchase price adjustments and transaction expenses, for NRG's 50% interest was approximately $260 million. Cash taxes in 2009 associated with the planned repatriation of ...
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