Allegheny sells West Virginia gas ops for $228m
Monongahela Power Company, a subsidiary of Pennsylvania-based Allegheny Energy, is to sell its natural gas operations in West Virginia for $141 million in cash and $87 million in assumed long-term debt to a private investment partnership.
Allegheny expects to record a loss on the sale of about $40 million ($25 million, net of income taxes) in the third quarter of 2004. The company said it will use
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