Constellation Enters Settlement With DOJ To Complete $16.4B Calpine Acquisition
Synopsis
As part of the resolution, Constellation has agreed to divest multiple assets.
Constellation (CEG) on Friday said that it has cleared the final regulatory step to complete the $16.4 billion acquisition of Calpine Corporation announced earlier this year.
The company said that it has reached a resolution with the U.S. Department of Justice on the conditions required to complete the acquisition. As part of the resolution, Constellation has agreed to divest multiple assets including York 2, a 828-megawatt natural gas-fired, combined-cycle plant in Pennsylvania, as well as the Jack Fusco Energy Center, a 605-megawatt natural gas fired combined cycle facility located outside Houston, Texas.
The company also agreed to divest a minority ownership interest in the Gregory Power Plant, a 385-megawatt natural gas-fired combined cycle near Corpus Christi, Texas.
The company received necessary regulatory approvals from the Federal Energy Regulatory Commission, the New York Public Service Commission and the Public Utility Commission of Texas earlier.
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