EDF, Constellation Are in Talks to Save U.S. Venture
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Electricite de France SA, Europe’s biggest utility, and Constellation Energy Group Inc. are in talks to avoid the collapse of their U.S. nuclear venture, according to two people with knowledge of the discussions.
The companies are negotiating to resolve a dispute over an option Baltimore-based Constellation has to sell non-nuclear plants to EDF for as much as $2 billion, the people said, declining to be identified because the talks are private. The so-called put, due to expire in December, was agreed to in 2008 when Constellation sold half its nuclear business to EDF.