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Talen selling three plants to meet FERC requirement

Oct 08, 2015 - The Deal Pipeline
Mergers and Acquisitions

Talen Energy Corp. (TLN) said Thursday it will sell three Pennsylvania power plants in two separate transactions in order to comply with a federal divestiture order issued when the company was spun off from PPL Corp. (PPL) and Riverstone Holdings LLC last year. 

Total proceeds from the sales are $1.51 billion and the three plants have a total combined generating capacity of 996 megawatts. Under conditions imposed by the Federal Energy Regulatory Commission, Talen still must divest an...