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Reuters – Electricite de France SA is close to an agreement to buy half the nuclear power business of Constellation Energy Group Inc (CEG.N) for $4.5 billion, Bloomberg reported, citing people familiar with the situation.
Approval by Constellation‘s board, subject to some conditions, may be announced as early as this week, Bloomberg said quoting a source who remained anonymous because the talks are private.
In September, Berkshire Hathaway Inc’s (BRKa.N) (BRKb.N) unit MidAmerican Energy Holdings agreed to pay $4.7 billion, or $26.50 a share, for U.S. power company Constellation, which was on the brink of bankruptcy.
Reuters – General Electric Co plans to raise $15 billion through stock sales — including $3 billion from Warren Buffett — to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday.
The news helped to erase some of the day’s slide in GE shares, which fell more than 9 percent earlier, but was not enough to push them into positive territory. Investors remained worried about the troubles at GE’s vast finance arm — which has businesses ranging from loans to mid-sized business to investing in real estate.
It was the second big strategic investment by Buffett’s Berkshire Hathaway Inc in the battered finance sector in as many weeks. Last week Berkshire said it would invest $5 billion in Wall Street’s Goldman Sachs Group Inc.
Reuters India- A Chinese fund manager has won a lunch with famed U.S. investor Warren Buffett after bidding $2.11 million for the opportunity in a charity auction, more than three times what the lunch fetched last year.
Zhao Danyang, who runs Hong Kong-based Pureheart China Growth Investment Fund, had the winning bid in the eBay Inc auction that ended late on Friday.
Proceeds of the lunch with the 77-year-old chairman of Berkshire Hathaway Inc benefit Glide, a nonprofit foundation in San Francisco that offers programs for the poor, hungry and homeless.
Mohnish Pabrai, an Irvine, California-based investor, paid $650,100 for the right to dine with Buffett last year.
Buffett began donating lunches in 2000 after his wife Susan introduced him to the Rev. Cecil Williams, who founded Glide and runs the Glide Memorial United Methodist Church. The auctions, including the current one, have grossed more than $4 million for the organization. Last year’s winning bidder paid $650,000 for lunch with Buffett.
