FREE Forex Trading Course
Deposit $250 in an FXCM Micro account and receive the DailyFX Power Course FREE OF CHARGE. FXCM Micro is a discount brokerage service offering super low spreads, 1k lot sizes, and flexible 400:1 leverage. Click below to learn more.
Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
It was recently announced by Aquila Incorporated that it had completed the sale of the companies Kansas electric utilities for a reported 292 million dollars. This sales was the last of four sales of assets in the year 2005.
The Kansas utilities was purchased by the Mid-Kansas Electric Company which is a cooperative of several rural electric companies. Aquila also reported the sale of the eight percent lease that it had on Jeffery Energy Center in addition to the obligation to purchase power from Mid-Kansas Electric to Westar Energy for close to $18 million.
Close to 70,000 customers in 32 rural Kansas counties are currently being served by the utilities that were sold by Aquila.
During the later part of 2005, Aquila stated that in an effort to have a successful debt reduction and streamline day-to-day company operations it would be selling natural gas utilities that it held in Minnesota, Michigan and Missouri in addition to the Kansas electric utilities for $896.7 million.
The remaining Aquila assets that are up for sale will be sold to Great Plains Energy Inc. and Black Hills Corp. for a total of more then 2.5 billion dollars in cash and stock in addition to assuming $1 billion in debt currently held by Aquila.
Aquila stock rose to $4.20 during daily trading on the New York Stock Exchange. Over the past year, it has averaged in price from $3.90 to $4.86.
15:20
Posted on Apr-02-2007
