Exelon Sells PE Firm 3 Md. Plants For $400M To Fund Merger

Law360, New York (August 9, 2012, 11:11 PM EDT) -- Exelon Corp. struck a $400 million deal with energy-focused private equity firm Riverstone Holdings LLC, which has agreed to take three coal-fired Maryland power plants off Exelon's hands to facilitate its merger with Baltimore's Constellation Energy Group Inc., Exelon announced Thursday.

The Federal Energy Regulatory Commission, U.S. Department of Justice and Maryland Public Service Commission required Chicago-based Exelon, the nation's top energy provider, to to sell off the three plants, collectively known as Maryland Clean Coal, as a condition of the Constellation merger, according to a...
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