August 1, 2017 / 6:33 AM / 3 months ago

BRIEF-Fortescue Metals to repurchase Solomon power station from Tec Pipe

Aug 1 (Reuters) - Fortescue Metals Group Ltd

* Gave notice to repurchase Solomon power station from Tec Pipe Pty Ltd, a wholly owned subsidiary of Transalta Corporation

* Solomon power station is currently treated as a lease liability and recognised as debt on fortescue’s balance sheet

* Liability and associated costs related to Solomon power station of US$348 million will be fully repaid from available cash in November 2017 Source text for Eikon: Further company coverage:

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