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June 10, 2014
05:29 EDTPPLPPL Corp., Riverstone to combine merchant power generation businesses
PPL Corporation and Riverstone Holdings announced a definitive agreement to combine their merchant power generation businesses into a new stand-alone, publicly traded Independent Power Producer, or IPP. The new company, which will own and operate a diverse mix of 15,320 megawatts of generating capacity in key U.S. competitive energy markets, will be called Talen Energy Corporation. Under the terms of the agreement, at closing, PPL Corporation will spin off PPL Energy Supply, the parent company of PPL Generation, and PPL EnergyPlus, to shareowners of PPL and then immediately combine that business with Riverstone's generation business to form Talen Energy Corporation, an independent publicly traded company expected to be listed on the NYSE. Upon closing, PPL Corporation's shareowners will own 65% of Talen Energy and Riverstone will own 35%. PPL Corporation will have no continuing ownership interest in Talen Energy. PPL Corporation's shareowners will receive a pro-rata distribution of Talen Energy shares at closing based on the number of PPL Corporation shares owned as of the spinoff record date. The spinoff will have no effect on their ownership of PPL Corporation common stock and there will be no change in the number of shares of PPL Corporation common stock outstanding. The transaction is designed to be tax-free to PPL Corporation and its shareowners.
News For PPL From The Last 14 Days
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September 11, 2014
18:21 EDTPPLFed Appeals Court sides with PPL, affirms NJ Court decision on new power plants
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September 4, 2014
18:34 EDTPPLPPL Corp. agreement to sell hydroelectric facilities wins regulatory approval
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September 3, 2014
07:48 EDTPPLPPL Corp. to reaffirm FY14 ongoing EPS view $2.20-$2.40, consensus $2.27
SVP and CFO Vincent Sorgi will make a presentation and discuss the company's general business outlook with investors and financial analysts at the 2014 Barclays Capital CEO Energy-Power Conference. At this conference, Sorgi is expected to reaffirm the Company's previously announced 2014 ongoing earnings forecast of $2.20 to $2.40 per share and 2014 reported earnings forecast of $1.70 to $1.90 per share. The company says it is on target with project cost savings and synergies.

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