Teco Energy sale of stake in Guatemala’s EEPSA will reduce risk, says Robert W. Baird & Co.
Monday, October 25, 2010
Teco Energy improved its financial position and reduced its business risk through the sale of some of its assets in Guatemala, according to a report from Robert W. Baird & Co.
The sale will yield $181.5 million in cash that Teco likely will use to pay down parent company debt.
Teco Guatemala sold its 30 percent ownership stake in a distribution company that is the majority owner of EEPSA, a utility that serves Guatemala City and the surrounding areas.
Original source: Tampa Bay Business Journal