Shell Just Sold a $715 Million Stake in a Major New England Asset to Constellation Energy. Here's What Investors Need to Know.
Constellation will become the new owner of RISEC.
Overview
A large energy asset in New England is about to change hands, if an agreed-upon new deal ends up closing. Global energy giant Shell (NYSE:SHEL) has signed a deal for one of its subsidiaries to sell the business that owns the Rhode Island State Energy Center (RISEC). The buyer is the sprawling U.S. utility company Constellation Energy (NASDAQ:CEG), and the price is $715 million.
RISEC is the No. 1 electricity-generating facility in its state by output; that, plus the transaction's price tag, makes this deal meaningful. Here's how it'll impact both companies.
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Details
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Originally published at www.fool.com.
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