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TRANSCO AND NATIONAL POWER CLOSE SALE OF TRANSCO ENERGY VENTURES COMPANY

 HOUSTON, Sept. 13 /PRNewswire/ -- Transco Energy Company (NYSE: E) has closed the sale of its Transco Energy Ventures Company (TEVCO) subsidiary to National Power America, Inc., a subsidiary of National Power PLC (LSE: NPR). Transco today received $150 million at closing and expects to record a third-quarter gain from the sale of approximately $50 million pretax ($31 million after-tax, or 79 cents per share). TEVCO, which will now operate as American National Power, develops, constructs, owns and operates cogeneration and independent power plants; provides natural gas vehicle fueling services; and provides energy consulting services.
 Transco Energy Company transports natural gas through its interstate pipeline systems to markets in the eastern and midwestern United States and arranges for the transportation and sale of natural gas throughout the United States. Transco also maintains modest positions in other energy-related businesses.
 -0- 9/13/93
 /CONTACT: Katherine K. Putnam (media), 713-439-2455, or R. Dean Ayers (analyst), 713-439-2593, both of Transco Energy Company/
 (E)


CO: Transco Energy Company; National Power America, Inc. ST: Texas IN: OIL SU:

TW -- NY091 -- 1437 09/13/93 16:10 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
Words:181
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