MADISON, Wis., Jan. 26 /PRNewswire-FirstCall/ -- Alliant Energy Corp. today announced that it closed on the sale of all of its investments in Brazil for a purchase price of US$152 million effective Thursday, January 26, 2006. The purchasers are Brazil-based Sobrapar Ltda. and Antonio Jose Carneiro. The sale of the investments in Brazil was originally announced on January 19, 2006. Alliant Energy expects to use the net proceeds for further debt reduction at Alliant Energy Resources.
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With respect to the remainder of Alliant Energy's international businesses, the company is in the process of selling its 10 power plants in China and expects the divestitures to be completed by June 2006 and has completed the sale of three plants thus far. The process of selling its investment in Laguna del Mar in Mexico is underway, with expected final divestiture by September 2006. Finally, Alliant Energy continues to examine its options, including exit, to derive the greatest value out of its successful investments in New Zealand.
Alliant Energy Corporation is an energy-services provider with subsidiaries serving approximately 1.5 million customers. Providing its customers in the Midwest with regulated electricity and natural gas service is the company's primary focus. Alliant Energy's domestic utility subsidiaries, Interstate Power and Light and Wisconsin Power and Light, serve 990,000 electric and 419,000 natural gas customers. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at http://www.alliantenergy.com/ .
This press release includes forward-looking statements. These forward- looking statements can be identified as such because the statements include words such as "expects" or "expected" or other words of similar import. Similarly, statements that describe future plans or strategies are also forward-looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by such factors as: economic and political conditions in the countries in which Alliant Energy's international assets are located; regulatory or governmental actions in the countries in which Alliant Energy's international assets are located; fluctuating foreign exchange rates; further increases in coal and transportation costs in China and the ability to recover such costs through rates in the Chinese service territories; unanticipated construction or maintenance expenditures related to Alliant Energy's China generating facilities and its Mexico property; no material declines in the fair market value of, or expected cash flows from, Alliant Energy's international investments; unanticipated costs associated with environmental remediation and compliance laws in China; and Alliant Energy's ability to develop a divestiture plan and complete the proposed divestitures of the international assets and investments in a timely fashion and for anticipated proceeds. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward- looking statements included herein are made as of the date hereof and Alliant Energy undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
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