Massey Energy Co. of
Richmond sold its coal reserves in
Boone County,
W.Va., to an unnamed private company for $31 million.
The transaction is part of Massey’s effort to
sell off nonstrategic reserves
to bolster share price. The company expects an after-tax
gain of $19 million. (
Richmond Times-Dispatch)
MAXIMUS Inc., a Reston-based provider of government
services, sold its Corrections Services business to
Providence Service Corp. of
Tucson,
Ariz. for $3 million in cash and the assumption of
certain liabilities. The transaction is part
of MAXIMUS’s plan to
sell off businesses not expected to contribute to the
company’s growth plans. (Business Wire)
