El Paso sells four power plants

El Paso said in January it would sell up to 25 domestic plants to Northern Star for around $746 million – it will close further sales of these plants during the third quarter of 2004. Northern Star is jointly owned by the Ontario Teachers’ Pension Plan and AIG Highstar Generation, a member of AIG Global Investment Group.

The sales support El Paso’s long-range plan to reduce its debt, net of cash, to $15 billion by the end of 2005, says the company. It has targeted asset sales of between $3.3

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