Alliant Energy To Sell Minnesota Electric And Natural Gas Distribution

(RTTNews) - Alliant Energy Corp. (LNT) Tuesday announced agreements today to sell its Minnesota electric and natural gas distribution businesses to Southern Minnesota Energy Cooperative, a combined group of 12 neighboring electric cooperatives for approximately $128 billion.

The electrical sales agreement includes a ten-year purchased power agreement between SMEC and Alliant Energy's Iowa electric utility. The company's Minnesota natural gas business will be sold to Minnesota Energy Resources Corp., a subsidiary of Integrys Energy Group, Inc.

"Our Minnesota customers will be part of utilities with a significant, long-standing presence in the state," said Tom Aller, President of Alliant Energy's Minnesota and Iowa utility.