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Exelon's power unit files for Chapter 11 bankruptcy
November 7, 2017 / 3:08 PM / 11 days ago

Exelon's power unit files for Chapter 11 bankruptcy

Nov 7 (Reuters) - Exelon Corp’s ExGen Texas Power LLC unit on Tuesday filed for Chapter 11 bankruptcy protection after struggling to cope with massive swings in energy prices.

Exelon estimates a pre-tax gain of $125 million to $200 million in the fourth quarter from the sale of assets of the power unit, the company said in an SEC filing. (bit.ly/2zkZwOx)

Sources told Reuters in March that Exelon hired a debt restructuring adviser to help it evaluate options for the subsidiary. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Anil D‘Silva)

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