NRG Energy Sells Its Stake in MIBRAG

NRG Energy, Inc. sold its 50% ownership interest in mining company Mibrag B.V. for $260 million to a consortium of Severočeské doly Chomutov, the largest brown coal mining company in the Czech Republic and member of the CEZ Group, and J&T Group, a Czech Republic-based investment company. Mibrag B.V.’s principal holding is Mitteldeutsche Braunkohlengesellschaft mbH (MIBRAG), an integrated coal mining and power generating business located in central Germany. NRG continues to maintain its 41.9% interest in Schkopau, a 900-mw coal-fired power station located near Halle, Germany, which buys coal under a long-term contract from MIBRAG’s Profen mine.
As featured in Womp 2009 Vol 06 -