Posted by Sutherland Coop Law
on Aug 21, 2013 in Mergers/Acquisitions
| Comments Off on Missouri City Approves Coop’s Power Plant Purchase Option
The City of New Madrid, Missouri, approved Associated Electric Cooperative Inc.’s (AECI) option to purchase a power plant prior to the expiration of an existing agreement between AECI and the city. AECI will pay a total of $100 million over the term of the option agreement in order to acquire the city’s interest in the plant, with the first payment of $25 million due September 1...