ALLENTOWN, Pa., April 23, 2015 /PRNewswire/ -- PPL
Corporation and Riverstone Holdings LLC have been notified by the
U.S. Department of Justice that the agency has closed its review
under the Hart-Scott-Rodino Antitrust Improvements Act of the
proposed spinoff transaction involving PPL Energy Supply, which is
PPL's competitive generation business, and RJS Power Holdings,
which is Riverstone's competitive generation business.
This action is the final regulatory decision needed to close the
transaction, and keeps PPL and Riverstone on track to close the
transaction during the second quarter of 2015.
The transaction, when closed, will form Talen Energy
Corporation, which will be an independent, publicly traded company
listed on the New York Stock Exchange operating the combined
competitive power generation businesses of PPL Energy Supply and
RJS Power Holdings.
Previously, the Federal Energy Regulatory Commission,
Pennsylvania Public Utility Commission and Nuclear Regulatory
Commission approved filings related to the transaction.
PPL Corporation (NYSE: PPL), with 2014 revenues of $11.5 billion, is one of the largest companies in
the U.S. utility sector. The PPL family of companies delivers
electricity and natural gas to about 10 million customers in
the United States and the
United Kingdom. More information
is available at www.pplweb.com.
Riverstone Holdings LLC is an energy and power-focused private
investment firm founded in 2000 by David M.
Leuschen and Pierre F. Lapeyre,
Jr. with approximately $30
billion of equity capital raised. Riverstone conducts buyout
and growth capital investments in the exploration & production,
midstream, oilfield services, power and renewable sectors of the
energy industry. With offices in New
York, London, Houston and Mexico
City, the firm has committed approximately $29 billion to over 110 investments in
North America, Latin America, Europe, Africa and Asia. Visit www.riverstonellc.com for
more information.
Note to Editors: Visit our media website at
www.pplnewsroom.com for additional news
and background about PPL Corporation.
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PPL
contacts:
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For news media:
George C. Lewis, 610-774-4687
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For financial
analysts: Joseph P. Bergstein, 610-774-5609
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Riverstone
contacts:
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Jeffrey Taufield and
James David
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Kekst and Company,
212-521-4800
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SOURCE PPL Corporation