Duke Agrees to Sell Stake in Waste-to-Energy Interest

March 21, 2003

1 Min Read
Duke Agrees to Sell Stake in Waste-to-Energy Interest

Lynn Schenkman

New York -- AIG Highstar Capital and DLJ Merchant Banking Partners have agreed to acquire 50 percent interest in DUKE/UAE Ref-Fuel, Woodcliff Lake, N.J. Duke UAE Ref-Fuel owns American Ref-Fuel Co., Montvale, N.J., a holding company for six waste-to-energy facilities in the Northeastern United States. The agreement calls for a newly formed entity owned by Highstar Renewable Fuels and CSFB Private Equity to pay Duke Energy approximately $306 million.

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