PPL Corp. (PPL) 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.
The 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 Corporation, 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.
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