Infrastructure
Constellation Still Raising Cash (CEG, GS)
Published:
Last Updated:
Constellation Energy Group Inc. (NYSE:CEG) continues to shed assets. This time it’s the company’s London-based international commodities trading operations, which Constellation will sell to a division of Goldman Sachs Group Inc. (NYSE:GS). The company did not disclose the terms of the sale.
The announcement of the sale also noted that Constellation is trying tosell its Houston-based natural gas trading operation. The company’sgoal, according to its chairman, president, and CEO, is to "de-risk"Constellation’s trading business by reducing capital requirements forcollateral.
Constellation has sold 49.99% of its nuclear business to Electricite deFrance in a deal that could be worth up to $6.5 billion. Today’sannouncement won’t bump that up much, but to Constellation, every pennyhelps.
Paul Ausick
January 20, 2009
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
