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Stock Market & Financial Investment News

News Breaks
February 14, 2013
07:39 EDTCPNCalpine downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Calpine due to valuation.
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April 21, 2014
10:34 EDTCPNHigh option volume stocks: AXAS SCSS CPN FXEN JNS
07:14 EDTCPNCalpine to sell generation assets for $1.57B to LS Power
Calpine has signed an agreement to sell approximately 3,500 MW of generation resources in the Southeastern United States to U.S. power and energy infrastructure owner LS Power Equity Advisors for $1.57B in cash, subject to working capital and other adjustments. The portfolio consists of six combined-cycle generation facilities which use natural gas as the primary fuel source. The transaction is expected to close in Q2.
April 18, 2014
13:30 EDTCPNCalpine sees sell six Southeast region power plants for $1.57B
Calpine announced that it has agreed to sell six power plants in its Southeast region to LS Power for $1.57B in cash, subject to working capital and other adjustments. The portfolio of assets comprises 3,498 MW of combined-cycle generation capacity in Oklahoma, Louisiana, Alabama, Florida and South Carolina. Calpine expects to utilize existing federal and state net operating losses to almost entirely offset the projected taxable gains from the sale. In addition, none of the assets included in the transaction are directly encumbered with project debt. Therefore, the transaction is expected to result in net cash proceeds of approximately $1.53B, which the company intends to allocate in a balanced manner that maintains leverage neutrality and is accretive to Adjusted Free Cash Flow Per Share.
April 10, 2014
07:27 EDTCPNSenate Energy & Natural Resources Committee to hold a hearing
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