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Bloomberg: PPL in talks to sell power stake to Riverstone

  • PPL Corp. (PPL +1.1%) is in talks to sell a stake in its electric power subsidiary to P-E firm Riverstone Holdings as part of a tax-free spinoff of the unit, Bloomberg reports.
  • The deal reportedly would have PPL spinning out PPL Energy Supply to shareholders and then merging it with a smaller group of Riverstone-owned power facilities in Texas and New Jersey.
  • The combined entity would have a market value of $3B-$4B and operate electrical plants with ~12K MW of capacity.
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