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  • 02/07/2018 05:27:52

    NRG to raise $2.8 billion in cash proceeds from asset sales

    NRG Energy Inc. announced a series of asset sales Wednesday to raise $2.8 billion in total cash proceeds. The power company said it has agreed to sell its stake in NRG Yield, the holding company for its power generation assets, and in its renewables platform to Global Infrastructure Partners for $1.377 billion in cash. That deal is expected to close in the second half. The company has also agreed to sell stakes in certain ROFO pipeline assets to NRG Yield for cash proceeds of $407 million. NRG has also entered an agreement to sell its South Central business to Cleco Corporate Holdings LLC for $1.0 billion in cash. The company said it expects to make further asset sales in 2018 and is revising its total asset sales cash proceeds target to about $3.2 billion. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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