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Transmission Carve-Outs Generate M&A Transactions.

Publication: Mergers & Acquisitions Journal
Publication Date: 01-JAN-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
The stuttering effort to carve electrical transmission operations out of the U.S. utility system and run them as independent businesses has finally started to gather speed and generate deals for the mergers and acquisitions market.

In the latest and biggest deal of its type, DTE Energy Co. agreed to sell its transmission unit, International Transmission Co., to a financial buyer team of Kohlberg Kravis Roberts & Co.and Trimaran Capital Partners LLC for $610 million. It was the first transmission sell-off to a pure private equity club, and the partners said they would be on the prowl...



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