Mirant sells state in Chinese power company for $115 million
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Posted 3:14PM on Tuesday, May 7, 2002
ATLANTA - U.S. power provider Mirant Corporation sold its entire stake in Chinese independent electricity producer Shandong International Power Development Company for $115 million. <br>
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The company said Tuesday it sold the shares to institutional investors. <br>
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The Atlanta power provider has businesses in the Americas, Europe and Asia and as recently as last November said China was its number one target. <br>
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Mirant acquired the shares at the SIPD IPO in 1999. Since that time, Mirant has received approximately $34 million in dividends. <br>
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Mirant owns or controls more than 17,600 megawatts of generation capacity from regionally based businesses in the Asia/Pacific region, Europe, North and South America and the Caribbean.
