Dynegy sells pipeline to increase cash, eliminating fears of bankruptcy.
Dynegy’s Deal with the sale of its Northern Natural Gas Co. for $ 928 million, nearly $ 600 million less paid for the pipeline system will be in cash, and it is probably necessary to eliminate, in short, bankrupt - fears around the company.
Dynegy Monday, they sell the former Enron Corp. pipeline system MidAmerican Energy Holdings Co., a unit of Berkshire Hathaway. The investor Warren Buffett Berkshire, Chairman and Chief Executive.
After the deal, Dynegy would be $ 928 million in cash and assume that MidAmerican, $ 950 million in the pipeline debt. The transaction is scheduled for next month.
The two pieces of Dynegy assist efforts to increase liquidity, which is cash or easy access to him. The pipeline of debt, $ 450 million, due November.
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