BRIEF-Veresen says hired TD Securities as advisor for power business sale

Wed Aug 3, 2016 6:34pm EDT
 
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Aug 3 (Reuters) - Veresen Inc

* Will pursue sale of its power generation business and will suspend its premium dividend and dividend reinvestment plan

* Intends to initially apply proceeds of sale of power business to reduce its debt outstanding

* Has engaged TD Securities Inc. As company's sole financial advisor on divestiture of power business

* Increased 2016 distributable cash guidance to be in range of $1.03 per common share to $1.13 per common share Source text for Eikon: Further company coverage: