BRIEF-Veresen announces sale of Glen Park merchant power facility for $61 mln

Tue May 24, 2016 8:18am EDT
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May 24 (Reuters) - Veresen Inc

* Agreement for sale of its 33 megawatt glen park hydro power generation facility for proceeds of us$61 million plus working capital at closing

* Transaction is not expected to have a material impact on veresen's 2016 financial performance

* Maintaining its full year distributable cash guidance of $0.94 per common share to $1.08 per common share

* Expects distributable cash from power business to remain in range of $47 million to $54 million for 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)