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US: Power company continues divestments to get out of red

By  |  March 12, 2013

Power company Dominion Resources Inc. has announced it will be divesting three out-of-state merchant generation power structures as the company gradually leaves the unregulated power sector. While the deal still remains subject to approval by government antitrust authorities as well as the Federal Energy Regulatory Commission, the divestments – to be sold to a private equity firm – are expected to result in about $650 million. According to reports, the company will use the cash to reduce debt and to invest in its regulated businesses.

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    Full Content: Times Dispatch

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