EDF close to buying half of Constellation

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.

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