Wacthell Guides Ameren's $825M Coal Plant Sale To Dynegy

Law360, New York (March 14, 2013, 1:45 PM EDT) -- Debt-laden power company Ameren Corp. will unload a bundle of merchant-generation assets to Dynegy Inc. in a deal worth $825 million as it looks to sharpen its focus on rate-regulated power generation operations, the company said Thursday.

No cash will change hands in the transaction. Instead, Houston-based Dynegy will absorb $825 million in debt tied to the five Illinois coal-fired plants covered by the deal's terms. In addition to lightening Ameren's debt load, the sale frees up $180 million in tax benefits for the company, it...
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