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Strategies & Market Trends : Vivendi - Softbank partner

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To: JaniceH who wrote (83)	2/20/2000 1:11:00 PM
From: debra vogt	Read Replies (1) of 122

Sunday February 20, 12:51 pm Eastern Time Vivendi sells U.S. power units for $2.1 bln PARIS, Feb 20 (Reuters) - French conglomerate Vivendi said Sunday that its subsidiary Sithe Energies had sold 40 independent power-producing units to Reliant in the United States for $2.1 billion. A Vivendi statement said the power plants had been purchased in November from GPU (NYSE:GPU - news) and that the present sale had yielded $450 million in capital gains. Vivendi said the sale would allow it to immediately reduce a large part of its debt. The company said it planned to cut its debt by selling off its power-generating businesses. Among the plants sold were 17 units in Pennsylvania, four in New Jersey and one in Maryland, Vivendi said. -------------------------------------------------------------------------------- More Quotes and News: GPU Inc (NYSE:GPU - news) Related News Categories: US Market News -------------------------------------------------------------------------------- Help -------------------------------------------------------------------------------- Copyright ¸ 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of

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