PPL sells gas plants

PPL Corp. completed the previously announced sale of its interests in several generating stations to LS Power Equity Advisors, a unit of LS Power, for $381 million in cash.

The transaction includes the 244 MW PPL Wallingford natural gas-fired power plant in Connecticut, the 585 MW PPL University Park natural gas-fired power plant in Illinois and PPL’s one-third share in Safe Harbor Water Power Corp.

Credit Suisse and BofA Merrill Lynch served as PPL's financial advisers in this transaction.

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