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BRIEF-Veresen says hired TD Securities as advisor for power business sale

Published 2016-08-03, 06:34 p/m
© Reuters.  BRIEF-Veresen says hired TD Securities as advisor for power business sale
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Aug 3 (Reuters) - Veresen Inc VSN.TO

* Will pursue sale of its power generation business and will suspend its premium dividend and dividend reinvestment plan

* Intends to initially apply proceeds of sale of power business to reduce its debt outstanding

* Has engaged TD Securities Inc. As company's sole financial advisor on divestiture of power business

* Increased 2016 distributable cash guidance to be in range of $1.03 per common share to $1.13 per common share Source text for Eikon: ID:nCCNb9C0PJ Further company coverage: VSN.TO

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