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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