Edison sells int?l power assets, including Paiton
Saturday, July 31 2004 - 01:04 AM WIB
US power firm Edison Mission Energy announced Friday that it has entered into an agreement to sell its remaining 5,381 MW (net) international power generation portfolio, including in Indonesia, to a consortium comprised of International Power plc of UK (70%) and Mitsui & Co., Ltd. (30%).
The purchase includes 13 power generation projects in nine countries - Britain, Italy, Spain, Turkey, Australia, Indonesia, Thailand, Philippines and Puerto Rico.
The purchase price is $2.3 billion, subject to certain purchase price adjustments prior to closing resulting in an expected net purchase price of approximately $2.2 billion.
Closing of the transaction is subject to approval by International Power?s shareholders, and to a number of regulatory approvals and project level consents. The sale is expected to close in the fourth quarter of 2004.
In Indonesia, Edison has 45 percent shares in PT. Paiton Energy, the operator of 2 x 615 MW coal-fired power plant in East Java.(alex)