EDF Withdraws Opposition To Merger Between Exelon, Constellation
January 17 2012 - 4:14AM
Dow Jones News
French state-controlled power utility Electricite de France SA
(EDF.FR) Tuesday said it has agreed to withdraw its opposition to
the merger between U.S. utilities Exelon Corp. (EXC) and
Constellation Energy (CEG) as they have both agreed to maintain the
operational autonomy of Constellation's nuclear power unit in which
EDF owns a stake.
"We are pleased to have reached an agreement with Exelon that
protects Constellation Nuclear's operational independence," EDF's
Chief Financial Officer Thomas Piquemal said in a statement. "We
look forward to welcoming Exelon as a partner in this important
joint venture."
Constellation Energy Nuclear Group, which operates five nuclear
plants in Maryland and New York, is 50.01% owned by Constellation
Energy and 49.99% owned by EDF.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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