8-KAcquisitions & DispositionsExhibits & Filings

EDISON INTERNATIONAL 8-K Report, Acquisition Completed (Dec 21, 2004)

Filed December 21, 2004For Securities:EIX

Summary

Edison International, through its subsidiary Edison Mission Energy (EME), has completed the divestiture of MEC International B.V. (MECIBV) for a cash consideration of $2.0 billion. This sale includes EME's stakes in ten international power generating projects. The proceeds from this significant transaction are earmarked for debt repayment, supporting contracting and hedging activities, capital expenditures for remaining domestic projects, and general investment purposes. Furthermore, EME is in the process of selling its interests in the CBK, TriEnergy, and Doga projects, with anticipated proceeds of approximately $216 million, expected to close by early 2005.

Key Highlights

  • 1Completion of sale of MEC International B.V. (MECIBV) for $2.0 billion in cash.
  • 2Sale involved EME's interests in ten international electric power generating projects.
  • 3Proceeds to be used for debt reduction, operational support, capital expenditures, and investment.
  • 4Repayment of a $200 million secured loan in anticipation of the sale.
  • 5Agreements in place to sell interests in CBK, TriEnergy, and Doga projects for approximately $216 million.
  • 6These additional asset sales are expected to conclude by year-end 2004 or early 2005.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the completion of Edison Mission Energy's sale of MEC International B.V. and its related assets, as well as to report on the status of other divestiture agreements.

Edison International, via EME, received $2.0 billion in cash from the sale of MEC International B.V. and related assets.

The cash proceeds, net of transaction costs and taxes, are intended to be used by EME to repay debt, support contracting and hedges of power sales, fund capital expenditures for EME's remaining domestic projects, and for investment.

Yes, Edison Mission Energy is also selling its interests in the CBK, TriEnergy, and Doga projects, with an anticipated proceeds of approximately $216 million. These sales are expected to be completed by year-end 2004 or early 2005.