Message #23 From:
NewsBot Date: January 9, 2007 01:13:00 PM
MDU News MDU Resources Retains Investment Bank As It Explores Divesting Domestic Independent Power Production Assets
BISMARCK, N.D.--(BUSINESS WIRE)--MDU Resources Group, Inc. (NYSE:MDU) announced that it has retained the
investment bank Goldman, Sachs & Co. as financial adviser with respect
to the potential sale of domestic independent power production assets
held in the company’s wholly owned subsidiary,
Centennial Energy Resources.
MDU Resources Group’s decision to explore the
sale of the domestic assets of Centennial was based on the increased
market demand for independent power production assets, combined with the
company’s desire to efficiently and
conservatively fund future capital needs.
The domestic independent power production business owns assets, or
interests in assets, in Montana, Colorado, California and Georgia. All
of the assets are fully contracted under mid- to long-term power
purchase and sale agreements, and include coal-fired, natural gas-fired
and wind-powered generation.
MDU Resources Group, Inc., a member of the S&P MidCap 400 index,
provides value-added natural resource products and related services that
are essential to energy and transportation infrastructure. MDU Resources
includes natural gas and oil production, construction materials and
mining, natural gas pipelines and energy services, electric and natural
gas utilities, construction services, and domestic and international
independent power production. For more information about MDU Resources,
see the company’s Web site at www.mdu.com
or contact the Investor Relations Department at investor@mduresources.com.
