FERC OKs $5B Constellation Sale To French Nuke Giant

Law360, New York (February 20, 2009, 12:00 AM EST) -- Federal regulators on Thursday authorized Electricite de France SA's $4.5 billion purchase of a major ownership stake in Constellation Energy Group Inc.'s nuclear power assets as Constellation expressed hope the deal would boost earnings.

The Federal Energy Regulatory Commission also approved terms of an agreement that gives Constellation the option to sell ownership interests in various non-nuclear generating plants, among other assets, to the French electricity giant in deals valued at up to $2 billion.

Under the deal, EDF Development Inc., a unit of the French...
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