Calpine buys Pepco power assets for USD1.65bn

Fri Apr 23 2010, 09:43 AM

Californian energy firm Calpine is paying USD1.65bn to acquire the Conectiv Energy power generation assets of Pepco. The firm will finance the acquisition through a combination of cash and debt, which is to be provided by Credit Suisse, Citi and Deutsche Bank. The transaction remains subject to approvals and is expected to close by the end of June.

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