NRG Energy Inc., which has power-generation plants in Connecticut, and URS Corp., a provider of engineering services, said today they will sell Mibrag B.V. to a joint venture of power group CEZ Group and investment company J&T Group for $519 million.
NRG Energy of Princeton, N.J., said the sale is part of an effort to exit its international holdings to boost capital and focus in its domestic core operations. It is receiving about $259 million for its stake.
URS Corp. of San Francisco, which acquired Mibrag with its purchase of Washington Group International in 2007, said the business is outside its core engineering and construction focus.
Mibrag’s main asset in an integrated coal mining and power generating business in central Germany.
The transaction is expected to close during the second quarter.
At 11 a.m., NRG traded at $20.22, down 38 cents, or 1.8 percent. (AP)
