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Business 2003 P44



El Paso Corp. announces sale of various midstream assets and energy management company
El Paso Corp. has agreed to sell various Mid-Continent and Northern Louisiana midstream assets to Regency Gas Services LLC, an investment of Charlesbank Capital Partners, LLC.

AEP slashes dividend by 42 per cent
The board of US power generator American Electric Power Co. Inc. (AEP) on Wednesday approved a 42 per cent cut in its quarterly common stock dividend to 35 cents a share.

Burnham decides to step down as Raytheon CEO
Raytheon Co. has announced that effective July 1, 2003, its chairman and chief executive officer, Daniel P. Burnham, 56, has decided to step down as CEO of the company.

Aquila agrees to sell Australian interests
Aquila, Inc. announced Tuesday that it has reached an agreement to sell all of its Australian interests for approximately $589m, which after fees, expenses and taxes is projected to yield net cash proceeds of approximately $445m at closing.

Allegheny Energy Supply to return trading operations to Pennsylvania
Allegheny Energy Supply, a subsidiary of Allegheny Energy, Inc., will return its trading operations to Pennsylvania beginning next month.

Cleco Corp. in talks to sell Perryville plant
Cleco Corp. announced it is in discussions to sell its 725-megawatt power plant in Perryville, La.

Entergy receives informal inquiry from SEC
The SEC has sent an informal inquiry to Entergy Corp. relating to "prearranged 'round trip' or 'wash' trades" by Entergy, Entergy-Koch, LP or Entergy-Koch Trading, LP in 2001 and 2002.

SunGard completes tender offer for shares of Caminus Corp.
SunGard announced that it has completed its cash tender offer for the outstanding common shares of Caminus Corp. at a price of $9.00 per share.

Global Thermoelectric Inc. reports 42% increase in generator revenues for 2002
Global Thermoelectric Inc., a developer of solid oxide fuel cell (SOFC) products, announced operational and financial results for the fourth quarter and year ended December 31, 2002.

Aquila completes refinancing
Aquila Inc. announced that it has completed a new financing agreement that replaces its short-term credit facilities.

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