International Power PLC (IPR.LN) said Friday it has completed the sale of its entire Czech business to the Czecho-Slovak investment firm J&T Group; the sale comprises the wholly-owned Czech subsidiary International Power Opatovice (IPO), as well as IPO's interests in its joint ventures Prazska Teplarenska (PT) and Energotrans (ET)
MAIN FACTS:
-The sale of the business generated net cash proceeds to International Power of CZK17.6 billion (GBP619 million) and an after tax profit on sale of some GBP420 million.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com