August 31
Convera Corp., a Vienna-based provider
of vertical search services for publishers, sold its
RetrievalWare business to FAST Search
& Transfer in a $23 million cash transaction. (PRN)
MeadWestavco Corp., a Richmond paper products
company, sold 62,000 acres of forestland in West Virginia
to a subsidiary of Penn Virginia Resource Partners LP
for $93.1 million. The company had previously sold 228,000
acres of timberland to Wells Timberland REIT. MeadWestvaco
received a total of $493.1 million from the combined
transactions. (BIZ)
Posted August 6
The Allied Defense Group Inc.,
a Vienna-based defense and security firm, sold its Poway,
Calif., subsidiary SeaSpace Corp. to Acetopia Holdings
of Seoul, South Korea, in a deal valued at $1.65 million. (News
release)
Posted July 11 Dominion Inc., an energy provider headquartered
in Richmond, sold its natural gas and oil exploration
operations in the Mid-Continent Basin, primarily in
Oklahoma, to Linn Energy LLC for $2 billion. Dominion
previously divested other gas and oil operations in
a series of deals but will retain its Appalachian operations. (PR
Newswire)
Posted July 10
Dominion Resources Inc., a Richmond-based
power company, sold most of its onshore oil and gas business
in two deals totaling $6.5 billion. Loews Corp. bought
operations in Michigan, Alabama and West Texas for $4
billion. XTO Energy Inc. acquired Dominion’s holdings
in the Rocky Mountains, San Juan Basin, South Louisiana
and along the Gulf Coast for $2.5 billion. The company
has been divesting much of its oil and natural gas businesses,
most of which came from its purchase of Consolidated
Natural Gas Inc. of Pittsburgh in 2000. Dominion also
recently sold its natural gas and oil exploration operations
in the Mid-Continent Basin to Linn Energy for $2 billion.(
Richmond Times-Dispatch)
