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Aquila Unit Selling Everest Unit

The broadband deal will bring $86 million.

Electricity and gas utility

Aquila

(ILA)

said its subsidiary, Everest Global Technologies, agreed to sell its cable, broadband Internet, and telephony business to a subsidiary of Seaport Capital Partners III, a private equity investment partnership, for $85.7 million in cash.

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The sale includes substantially all of the assets of the Everest business, which serves customers in the greater Kansas City metropolitan area.

The deal is a part of its plan to divest itself of non-strategic assets, it said. The transaction is expected to close in the second or third quarter of 2006.

This story was created through a joint venture between TheStreet.com and IRIS.