EDF notifies the exercise of its put option on its participation in CENG
Pursuant to the set of agreements concluded with Exelon in 2014 (1), EDF notified Exelon today of the exercise of its put option on 49.99% of the membership interests of CENG.
CENG owns five nuclear reactors across three nuclear power plants located in the states of New York and Maryland for a total capacity of 4041 MW (company-owned capacity).
This put option can be exercised by EDF from January 1st 2016 to June 30 2022. The transaction price will follow from the determination of the fair market value of CENG shares pursuant to the contractual provisions of the put option agreement.
The closing of the transaction is conditional upon obtaining the required regulatory approvals.
The disposal of CENG shares is part of the disposal plan of non-core assets announced by EDF Group.
(1) EDF Press Release of April 1st 2014 « EDF and Exelon finalize agreement on CENG »
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