This excerpt taken from the LNT 10-Q filed May 6, 2005.
Asset Divestitures - In April 2005, Alliant Energy successfully completed the sale of Cogenex Corporation (Cogenex), its energy services business, and received net cash proceeds of approximately $35 million, which will be available to Resources for further debt reduction. Alliant Energys effort to sell IPLs interest in DAEC is progressing as planned, with bids due in June 2005. A bid winner for DAEC is expected to be selected and announced in the third quarter of 2005. Alliant Energy is in the final stages of selecting a buyer for its Illinois electric and gas utility properties. A signed purchase agreement is expected in June 2005 with regulatory approval expected to take up to 11 months after the purchase agreement is signed. WPL has signed a non-binding letter of intent with an interested party related to the sale of the water utility in South Beloit, Illinois that provides for exclusive negotiations over terms and conditions of a potential purchase agreement. Refer to Notes 6 and 10 of Alliant Energys Notes to Condensed Consolidated Financial Statements for further discussion of the assets Alliant Energy is in the process of divesting.
Alliant Energy also continues to evaluate and consider the full range of options available to it regarding the future of its remaining non-regulated businesses, and has recently retained advisors to assist it in evaluating the strategic alternatives related to its investments in Brazil, China and Mexico.
This excerpt taken from the LNT 10-K filed Mar 4, 2005.
Asset Divestitures - Alliant Energy is committed to streamlining its portfolio of businesses to those that can provide meaningful earnings and cash flows for shareowners with acceptable risk profiles, as well as those it is prepared to invest the capital needed to reach the scale necessary to generate such earnings and cash flows. Consistent with this strategic focus and following the divestitures of its Australian, affordable housing, SmartEnergy, Inc., the majority of its oil and gas (WPC) and several other modest businesses in 2003, Alliant Energy completed the divestitures of additional businesses in 2004. In addition, Alliant Energy is in the process of divesting additional non-regulated and domestic utility businesses. The proceeds realized from these asset sales are expected to be available for debt reduction and other general corporate purposes. The following is a summary of Alliant Energys asset divestiture activities in 2004 and to date in 2005.