Verso Corp. Sells Hydro Facilities for $62 Million

 Verso Corporation Sells Hydro Facilities for $62 Million

Verso Corporation has sold its subsidiary Verso Androscoggin Power LLC (VAP) to Eagle Creek Renewable Energy LLC for about $62 million in cash.

VAP owns four hydroelectric generating facilities that help power Verso’s Androscoggin Pulp and Paper Mill in Jay, Maine.

The company says the sale will have no effect on the mill’s operations.

Verso says the sale should help address cash flow and liquidity concerns while the company continues looking at other potential sales as it restructures.

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