SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of
earliest event reported): October 5, 2000
Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
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1-6047 GPU, Inc. 13-5516989
(a Pennsylvania corporation)
300 Madison Avenue
Morristown, New Jersey 07962-1911
Telephone (973) 401-8200
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ITEM 5. OTHER EVENTS.
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On October 5, 2000, GPU, Inc. ("the Company") announced that it had agreed
to sell its GPU International, Inc. ("GPUI") subsidiary to Aquila Energy
Corporation, a subsidiary of UtiliCorp United, for $225 million. The sale
includes GPUI's interests in six domestic independent power plants, representing
approximately 500 MW of capacity, and a one-half interest in a 715 MW
development stage project.
The Company anticipates closing the sale, which is subject to certain
federal and state regulatory approvals, by the end of the year. GPU expects to
realize an after-tax gain on the sale of between $60 million to $80 million, and
will utilize the sale proceeds to reduce outstanding debt.
A copy of GPU's related news release is annexed as an exhibit.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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(c) Exhibit
1. GPU News Release, dated October 5, 2000.
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SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GPU, INC.
By: /s/ T. G. Howson
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T. G. Howson, Vice President
and Treasurer
Date: October 6, 2000
