Sunday, December 31, 2000

Dayton Power may be sold




The Associated Press

        DAYTON — The Dayton Power and Light Co., which provides electricity to 500,000 customers in west-central Ohio, may be up for sale.

        DPL Inc., the parent company, said Friday it had hired the Wall Street investment banker Morgan Stanley & Co. to explore that possibility.

        “DPL has had a consistent record of delivering exceptional value to its stakeholders,” said chairman Peter H. Forster. “In keeping with this history and given this unique time in the development of the emerging deregulated mer chant energy markets, we believe we should examine all possibilities.”

        Dayton Power and Light provides electricity to retail customers. Another subsidiary, DPL Energy, markets wholesale energy. DPL had sales in 1999 of $1.33 billion, compared with $1.35 billion the previous year.

        The announcement, which came after the stock markets closed, followed a report Thursday on TheStreet.com, an Internet news service, that DPL was looking to sell.

        DPL shares closed Friday at $33.19 per share, down 13 cents.

       



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