TITLE

Early Movers Begin Shedding Power Assets

AUTHOR(S)
Terzo, Gerelyn
PUB. DATE
December 2005
SOURCE
Investment Dealers' Digest;12/12/2005, Vol. 71 Issue 47, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the investment banking company, Goldman Sachs Group Inc. is all prepared to begin accepting bids for its Linden, New Jersey-based natural gas fired power plant, the Linden Cogeneration Facility. Goldman acquired the plant in October 2003 for $456 million in cash plus the assumption of $600 million of debt. The banking company is following the lead of the private equity consortium that astutely acquired U.S. wholesale power giant Texas Genco late last year. This decision is a signal that the market is developing enough liquidity that people cannot only trade, but buy assets. It is being considered as a good opportunity to sell assets and to monetize.
ACCESSION #
19275825

 

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