U.S. Department of Justice completes review of PPL-Riverstone transaction

ppl corporation elp

PPL Corp. and Riverstone Holdings LLC have been notified by the U.S. Department of Justice that the agency has closed its review under the Hart-Scott-Rodino Antitrust Improvements Act of the proposed spinoff transaction involving PPL Energy Supply, which is PPL's competitive generation business, and RJS Power Holdings, which is Riverstone's competitive generation business.

This action is the final regulatory decision needed to close the transaction, and keeps PPL and Riverstone on track to close the transaction during the second quarter of 2015.

The transaction, when closed, will form Talen Energy Corp., which will be an independent, publicly traded company listed on the New York Stock Exchange operating the combined competitive power generation businesses of PPL Energy Supply and RJS Power Holdings.

Previously, the Federal Energy Regulatory Commission, Pennsylvania Public Utility Commission and Nuclear Regulatory Commission approved filings related to the transaction.

PPL Corp, with 2014 revenues of $11.5 billion, is one of the largest companies in the U.S. utility sector. The PPL family of companies delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom.

Riverstone Holdings LLC is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with about $30 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed about $29 billion to over 110 investments in North America, Latin America, Europe, Africa and Asia.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs