Vattenfall

Mirant said it has completed the sale of its 44.8% ownership stake in Bewag, a Berlin-based utility to the Vattenfall group for $1.63 billion. Mirant received more than $1 billion in net proceeds after repayment of $600 million in debt associated with its Bewag investment. “Consistent with our announced business plan, this sale is yet another step in strengthening Mirant’s balance sheet and improving its liquidity,” said CEO Marce Fuller. “Other asset sales continue to be pursued by Mirant.”