THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, June 27, 1996 TAG: 9606270523
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 28 lines
James River Corp. in Richmond said it sold 22,200 acres of predominantly softwood timberland in eastern Maine to Champion International Corp. and Robbins Lumber Inc., of Searsmont, Maine. James River said the timberland is not strategic to its pulp and paper mill in Old Town, Maine, which primarily uses hardwood. While specific terms of the sale were not disclosed, proceeds are expected to be used to reduce long-term debt. After the sale, James River will own 265,000 acres of timberland in Maine, Alabama and Oregon. (Staff) Dominion buys stake in Peruvian Power
Dominion Resources Inc. acquired a 60 percent interest in Peru's Empresa de Generacion Electrica NorPeru SA, a subsidiary of government-owned ElectroPeru SA, for $228.2 million. The Peruvian government will retain a 40 percent stake in the unit. Empresa de Generacion owns and operates two hydroelectric power stations and six thermal power stations. As part of the acquisition, Richmond-based Dominion will add generating power during its first three years of ownership. The transaction is scheduled to be completed in mid-August. (Dow Jones News) by CNB