SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date earliest event reported) November 25, 1998 Commission Registrant, State of Incorporation, I.R.S. File Number Address and Telephone Number Employer Identification No. 1-11299 ENTERGY CORPORATION 72-1229752 (a Delaware corporation) 639 Loyola Avenue New Orleans, Louisiana 70113 Telephone (504) 529-5262 Item 5. Other Events Entergy Corporation has accepted an offer of A$1.7 billion from U.S.-based AEP Resources Inc., a subsidiary of American Electric Power (NYSE:AEP) for Citipower, the electric distribution company in Melbourne, Australia. The sale is expected to close at year-end. Entergy bought CitiPower in January 1996 for A$1.575 billion. After the effects of currency exchange and interest rate differences, Entergy expects to recognize a gain on the sale of approximately 12 cents on earnings per share. This gain is subject to various purchase adjustments, which will be finalized at or near the time of closing. Entergy initially indicated the divestments would be accomplished within an 18-month period, but significant interest in the properties has advanced that schedule. Entergy expects to realize about $4 billion from all divestments. Of the total, about $2.5 billion will be allocated to eliminating acquisition debt, about $0.5 billion will go toward reducing Entergy parent-company debt, and about $1 billion will be used to either fund future growth or for debt reduction. The divestment of CitiPower is part of Entergy's business strategy, announced in August, to refocus its resources on fewer core competency growth areas. The divestitures will allow Entergy to continue to pursue the three core competency businesses identified in August, international power development, power marketing and trading, and nuclear power operations. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENTERGY CORPORATION By: /s/ Wayne Leonard __________________________ Wayne Leonard President and Chief Operating Officer November 25, 1998