Completion of Powercor Disposal.Business Editors GLASGOW, Scotland--(BUSINESS WIRE)--Sept. 6, 2000 Further to the announcement of August 3, 2000 regarding the disposal of ScottishPower's (NYSE NYSE See: New York Stock Exchange : SPI) Australian assets to Cheung Kong Infrastructure and Hongkong Electric Holdings, ScottishPower confirms the completion of the disposal of Powercor for approximately AU$2.3 billion (US$ 4.0 billion)(a) on Wednesday, September 6, 2000. The binding offer from Cheung Kong Infrastructure and Hongkong Electric Holdings for the 19.9% interest in Hazelwood is still subject to a pre-emptive rights process and the sale is expected to conclude later this year. ScottishPower (NYSE: SPI) is a leading international multi-utility group strongly positioned both operationally and financially to deliver benefits for customers and enhanced returns for shareholders. The ScottishPower group supplies energy to millions of business and domestic customers across the UK, where it serves approximately one in five British households, and in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century , through its merger with PacifiCorp in November 1999. The group is also active in telecommunications, and recently completed an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. of its telecom subsidiary Thus (LSE LSE - Language Sensitive Editor : THUS), of which it retains a majority interest. ScottishPower's ADR, equivalent to four ordinary shares, trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol SPI. ScottishPower's ordinary shares trade on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Prices may be accessed on Bloomberg under the symbols SPI and SPW LN, on the Reuter Equities 2000 Service under SPI.N and SPW.L and on Quotron under SPWU.EU. (a)US Dollar equivalents provided for reader convenience at the September 5, 2000 rate of $1 = A$0.5705. |
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