EDF To Sell Remaining Shares In Constellation

French state-controlled energy group Electricite de France SA (EDF.FR) will sell its 14.6 million remaining shares in U.S. partner Constellation Energy Group Inc. (CEG), the U.S. stock market regulator Securities and Exchange Commission said late Monday.

EDF will sell its stake gradually through several transactions, including sales on the market, at a market or negotiated price, the SEC said in a filing.

According to the filing, EDF has a 7.9% stake in Constellation.

On Oct. 26, EDF and Constellation agreed to end a joint venture to develop nuclear power plants together after the relationship soured.

Under the terms of the agreement, EDF said it would transfer to Constellation 3.85 million of its shares in the U.S. company and relinquish its seat on the Constellation board.

-By Marion Issard and Angeline Benoit, Dow Jones Newswires; +33 (0)1 40 17 17 40; marion.issard@dowjones.com

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