The net proceeds to Mirant from the sale are expected to be approximately $565 million when the transaction closes, expected by mid-2007.

The business included controlling interests in two integrated utilities: Jamaica Public Service Company and Grand Bahama Power Company. Mirant also owned 39% of PowerGen, the owner and operator of three power plants in Trinidad, 25% of Curacao Utilities Company which provides electricity and other utility services and a $40 million convertible preferred equity interest in Aqualectra, an integrated water and electric company in Curacao.

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