July 12, 2017 / 11:37 AM / 3 years ago

NRG Energy targets asset sales of up to $4 bln

July 12 (Reuters) - NRG Energy Inc, the largest independent U.S. power producer, said on Wednesday it was targeting asset sales of up to $4 billion, as part of a three-year restructuring effort to cut costs.

The sale would include divestiture of 50 to 100 percent of the company’s interest in NRG Yield Inc and its renewables platform, the company said in a statement.

NRG had appointed two directors in February and agreed to cut costs and sell assets in a deal with activist investor Elliott Management and private equity firm Bluescape Energy Partners.

The funds have an 8.2 percent stake in the company. (Reporting by John Benny in Bengaluru; Editing by Arun Koyyur)

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