According to EDF, its proposal also provides for an up-front $1 billion cash investment in Constellation to be credited against the purchase price for EDF’s interest in the nuclear generation and operation business, and an option pursuant to which Constellation could sell non-nuclear generation assets to EDF having an aggregate value of up to $2 billion.
EDF expects to receive the necessary regulatory approvals for the acquisition of its interest in the nuclear generation and operation business and close the transaction within six to nine months, upon Constellation’s termination of its proposed transaction with the MidAmerican Energy Holdings Company and execution of a definitive agreement with EDF.
Pierre Gadonneix, chairman and CEO of EDF, said: “EDF has been a committed partner to Constellation. We continue to believe that Constellation is fundamentally strong and EDF believes that the proposed MidAmerican transaction undervalues Constellation and its future opportunities.”
EDF is an energy company in UK. Its aim is to deliver essential services to customers, people and shareholders. It proposes to invest in assets and environment in future.
