The U.S. Federal Energy Regulatory Commission (FERC) has approved the division of Illinois energy company Exelon into two independent publicly traded companies, according to S&P Global Platts.
The deal will result in two independent companies: Exelon and HoldCo.
Following the approval, ownership of the intermediate holding company that owns dozens of power companies affiliated with Exelon will be distributed to Exelon's shareholders. The dozens of entities' ownership will transfer to HoldCo, a new holding company that will serve as a direct, wholly owned subsidiary of Exelon. After that, the interests in HoldCo will be distributed proportionally to Exelon's shareholders through a dividend.
Once the deal closes, the franchised public utilities will no longer have an affiliation with the dozens of smaller companies, and those companies' generation facilities will be dissociated from Exelon's transmission facilities.
Exelon's family of companies
