The transaction - which continues the asset-selling trend among US energy companies - is expected to close during the fourth quarter of this year. Given NRG's right to repurchase a 40% interest, the transaction will be treated as a partial sale for accounting purposes. NRG expects to record a non-recurring, non-cash loss in the third quarter of around $22 million as a result of the agreement.
"The sale of Kendall, once completed, will mark another major milestone in our effort to reduce the
To continue reading...
Start a Risk.net Trial
Register for a Risk.net Business trial to access this article. Sign up today and get access to: