EDF announces it has completed the sale of its 49.99% interest in Constellation Energy Nuclear Group, LLC (“CENG”) to its joint venture partner, Exelon Generation, LLC (“Exelon”). The sale is pursuant to a Put Agreement entered into by EDF and Exelon in April 2014[1], in which Exelon granted to EDF the right to sell its interest to Exelon at fair market value. EDF exercised the put option in January 2020[2].
The purchase price for EDF’s interest in CENG is $885 million and the proceeds were received by EDF on August 6th.
The transaction is part of EDF’s previously announced disposal plan.
1. Cf. EDF Press Release April 1st 2014 "EDF and Exelon finalize agreement on CENG"
2. Cf. EDF Press Release November 20th 2019 "EDF notifies the exercise of its put option on its participation in CENG"
