SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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) November 14, 1996
Northern States Power Company
(Exact name of registrant as specified in its charter)
Minnesota
(State or other jurisdiction of incorporation)
1-3034 41-0448030
(Commission File Number) (IRS Employer Identification No.)
414 Nicollet Mall, Mpls, MN 55401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 612-330-5500
(Former name or former address, if changed since last report)
Item 5. Other Events
On November 14, 1996 NRG Energy, Inc. (NRG) a wholly owned subsidiary of
Northern States Power Company, a Minnesota corporation (the Company) issued
a news release announcing the signing of a definitive purchase agreement with
Bolivian Power Company Limited for the purchase of all outstanding common
stock. Attached, as Exhibit 99.01, is the news release.
Item 7. Financial Statements and Exhibits
(c) EXHIBITS
Exhibit
No. Description
99.01 November 14, 1996 News Release from NRG
SIGNATURES
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 hereunto duly authorized.
Northern States Power Company
(a Minnesota Corporation)
By /s/
Gary R. Johnson
Vice President and General
Counsel
Dated: November 15, 1996
EXHIBIT INDEX
Method of Exhibit
Filing No. Description
DT 99.01 November 14, 1996 News Release from NRG
DT = Filed electronically with this direct transmission.
NRG Energy, Inc. EXHIBIT 99.01
1221 Nicollet Mall
Suite 700 News Release
Minneapolis, MN 55403-2445
Telephone (612)373-5300
Fax (612)373-5340
NRG Energy Tenders For Bolivian Power
Minneapolis, (MN), U.S., November 14, 1996.....NRG Energy, Inc. announced
today the signing of a definitive purchase agreement with Bolivian Power
Company Limited (NYSE:BLP) for the purchase of all outstanding common stock.
Bolivian Power Company is the second largest generator of electricity in
Bolivia with 153 megawatts (MW) of capacity, which includes 136 MW of hydro
capacity and a 17 MW gas-fired peaking unit. Bolivian Power is incorporated
in Canada, and maintains offices in La Paz and New York City.
Under the agreement, NRG Energy, through its wholly-owned subsidiary
NRGenerating Holdings (No. 9) B.V., will commence a cash tender offer next
week for all of the outstanding common stock of Bolivian Power Company at a
price of (US) $43 per share. As of November 14, 1996, there are 4,202,127
outstanding shares.
NRG Energy will file tender offer documents with the U.S. Securities and
Exchange Commission and distribute them promptly to stockholders. The
expiration date of the offer will be 20 business days following the
commencement, unless the offer is extended. The offer is not contingent upon
the receipt of financing by NRG Energy.
Bolivian Power's largest stockholder Liberty Power/Cogentrix Bolivia Inc.
has agreed to tender its shares to NRG Energy. Liberty Power/Cogentrix
Bolivia owns 17.1% of Bolivian Power Company's shares. Deutsche Morgan
Grenfell is representing NRG and will act as dealer manager for the tender.
David Peterson, Chairman and CEO of NRG Energy, said, "NRG will continue
down the strategic path of improving shareholder value, building generating
capacity to meet Bolivian domestic demand and pursuing viable electricity
export opportunities in neighboring markets. This acquisition is also a good
fit with NRG's strategy to expand our business in Latin America. We are
currently developing a greenfield hydro facility in Chile and have ownership
interests in projects in Colombia, Peru, Honduras and Jamaica."
Worldwide, NRG has involvement in over 4000 megawatts of generating
capacity, including the Czech Republic, Germany, Australia, U.S. and Latin
America. NRG is a wholly-owned subsidiary of Northern States Power Company
(NSP), with offices located in Minneapolis, MN; Brisbane, Australia; Berlin,
Germany; London, UK; Prague, Czech Republic; and Tallinn, Estonia.
###
Contact:
Mr. Bob McClenachan
Vice President of International Business Development
612/373-5351
Ms. Trudy Marshall
Director of Communications
612/373-5410
