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Update: Exelon Details Purchase Price For ConEdison Solutions Retail Supply Biz
In releasing earnings yesterday, Exelon reported terms for Constellation's agreement to acquire the retail energy supply business of ConEdison Solutions
EnergyChoiceMatters.com was first to report that Consolidated Edison, Inc. had disclosed that its expected proceeds under the transaction were approximately $200 million, subject to certain adjustments.
Exelon has further disclosed the composition of such proceeds
Specifically, Exelon said that, pursuant to the purchase agreement, ConEdison Solutions agreed to sell its competitive retail electric and natural gas business to Exelon Generation for an all cash purchase price of $53 million plus estimated purchase price adjustments, including net working capital of $130 million.
The transaction is expected to close in the third or fourth quarter of 2016. The closing of the transaction is subject to certain conditions, including, obtaining the termination or expiration of any applicable waiting period required under the HSR Act for the consummation of the transaction.
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August 10, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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