Company Agrees to Sell its Class A Shares in Underwritten Public Offering
SAN RAMON, Calif., May 21 /PRNewswire-FirstCall/ -- Chevron U.S.A.
Inc., a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), has
agreed to sell all 96,891,014 of its shares of Class A common stock of
Dynegy Inc. (NYSE: DYN) in an underwritten public offering. The shares will
be offered pursuant to an effective registration statement filed with the
United States Securities and Exchange Commission. Proceeds to Chevron from
the transaction will be approximately $940 million.
Goldman, Sachs & Co. is the underwriter of the offering. A prospectus
relating to the offering, when available, may be obtained from Goldman,
Sachs & Co., Prospectus Department, 85 Broad Street, New York, New York
10004, fax: 212-902-9316 or email at prospectus-ny@ny.email.gs.com.
This news release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state.
Chevron Corporation is one of the world's leading energy companies.
With approximately 56,000 employees, Chevron subsidiaries conduct business
in approximately 180 countries around the world, producing and transporting
crude oil and natural gas, and refining, marketing and distributing fuels
and other energy products. Chevron is based in San Ramon, Calif. More
information on Chevron is available at http://www.chevron.com.
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE
PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995.
This news release contains forward-looking statements about the planned
sale by Chevron of approximately 97 million shares of Class A common stock
of Dynegy Inc. The statements are based on management's current
expectations, estimates and projections; are not guarantees of future
performance; and are subject to certain risks, uncertainties and other
factors, some of which are beyond the company's control and are difficult
to predict. Among the factors that could cause actual results to differ
materially are the length of time required to complete the sale; actual
prices per share received in the public offering; successfully securing the
necessary regulatory approvals; and general economic and political
conditions. You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. Unless
legally required, Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE Chevron U.S.A. Inc.
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Related links:
http://www.chevron.com
CONTACT:
Donald Campbell of Chevron U.S.A. Inc.,
+1-925-842-2589
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