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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): October 1, 1996
DESTEC ENERGY, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-10592 38-2875546
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
2500 CITY WEST BLVD., SUITE 150
HOUSTON, TEXAS 77042
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code:
(713) 735-4000
NOT APPLICABLE
(Former Name or Former Address, if changed since last report)
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ITEM 2. OTHER EVENTS.
Destec Energy, Inc. (the "Company") announced today that its Board of
Directors has unanimously determined to retain the investment banking firm of
Morgan Stanley & Co. Incorporated to assist the Company in exploring strategic
alternatives to maximize shareholder value, including a possible sale of the
Company. However, no decision has been made at this time to pursue any
particular transaction.
The above discussion does not purport to be complete and is in all
respects qualified in its entirety by reference to the Company's News Release
dated October 1, 1996, a copy of which is filed as an exhibit to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
The following item is filed as an exhibit to this current report on Form
8-K:
99 News Release of the Company dated October 1, 1996.
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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.
DESTEC ENERGY, INC.
By: /s/ Marian M. Davenport
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Marian M. Davenport
Vice President, General Counsel
and Secretary
Date: October 3, 1996
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[DESTEC LOGO APPEARS HERE] NEWS RELEASE
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INVESTOR CONTACT: Richard H. Woodfin
713/735-4022
MEDIA CONTACT: Marvin L. Brown, Jr.
713/735-4215
October 1, 1996
DESTEC RETAINS MORGAN STANLEY & CO.
Destec Energy, Inc. (NYSE: ENG), a leading independent power producer
based in Houston, Texas, announced today that its Board of Directors has
unanimously determined to retain the investment banking firm of Morgan Stanley &
Co. Incorporated to assist Destec in exploring strategic alternatives to
maximize shareholder value, including a possible sale of the Company. However,
no decision has been made at this time to pursue any particular transaction.
Destec is a major independent power company that owns power generation
and gasification facilities which produce, sell and market electricity, steam
and synthetic fuel gas. Destec has interests in 22 operating projects with a
total rated equivalent capacity of approximately 4,886 megawatts of electricity-
1,836 of that total outside the U.S. - and over three million pounds per hour of
steam. Destec currently has four international projects, representing
approximately 1,100 megawatts of capacity, in construction or advanced
development.
