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Constellation sells commodities business to Goldman Sachs

Constellation Energy is to sell the majority of its London-based international commodities business, including its coal and freight operations and European energy trading units, to Goldman Sachs.

    • Roderick Bruce
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The international commodities business is primarily based in London and includes the company's coal and freight platforms, as well as its European-focused power, gas and carbon trading operations. The transaction is expected to close by the end of the first quarter of 2009; terms were not disclosed.

Constellation's sale of its commodities business is part of a plan to increase the company's liquidity and reduce collateral requirements by divesting select merchant businesses. The company is also

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