NiSource completes sale of water company. (Newsline: for the latest industry developments).
NiSource said it will apply the $380 million in net proceeds from the sale to debt reduction. NiSource also announced that it sold its interest in the White River Environmental Partnership, which operates wastewater treatment plants, to the other partners for $8 million. NiSource also will apply these proceeds to debt reduction.
NiSource was allowed three years to sell its water assets as part of the order by the U.S. Securities and Exchange Commission approving the NiSource-Columbia merger, which was completed Nov. 1, 2000. The Public Utility Holding Company Act of 1935 requires utility holding companies to divest operations not integral to their primary operations.
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 1, 2002|
|Previous Article:||State of the HDD industry report. (Editor's Log).|
|Next Article:||NPC to prepare natural gas report. (Newsline: for the latest industry developments).|