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BALTIMORE — Constellation Energy Group Inc. agreed to sell half of its nuclear-power business to Electricite de France SA for $4.5 billion, abandoning a deal to sell itself to Warren Buffett’s MidAmerican Energy Holdings Co.
EDF will invest $1 billion in Constellation by purchasing preferred stock, putting up $600 million of backup financing and buying as much as $2 billion of other power plants if more cash is needed by a power-marketing business that has been the U.S.’s largest, Constellation said Wednesday in a statement.
