EDF announces it has completed today 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"

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