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Provider: Reuters Investment Profile

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EDF SA and Exelon finalize agreement on CENG

Tuesday, 1 Apr 2014 12:10pm EDT 

Electricite de France SA:Finalizes transaction regarding Constellation Energy Nuclear Group (CENG) after approval of U.S. Nuclear Regulatory Commission (NRC).Transaction terms set in agreement with Exelon dated July 29, 2013.Delegates to Exelon, U.S. nuclear operator, operational management of five nuclear reactors owned by CENG (spread across three sites in United States and representing total output of 4.2 GW).Special dividend of $400 million (about 300 million euros) paid by CENG to EDF, financed by Exelon.EDF granted option to sell its holding in CENG to Exelon at market value between Jan. 2016 and June 2022.EDF continues to hold 49.99 pct of CENG, whilst Exelon holds 50.01 pct.CENG Board of Directors continues to comprise equal numbers of Exelon and EDF board members. 

Company Quote

-0.25 -1.13%
11:35am EDT