MidAmerican Energy sells 2.39 million shares of Constellation Energy

By Lisa Kerner

Charlotte, N.C., Feb. 9 - Constellation Energy Group, Inc. investors led by Warren E. Buffett's MidAmerican Energy Holding Co. sold 2,392,215 shares of the company's stock between Jan. 23 and Feb. 9, keeping a 7.45% ownership interest.

The shares were priced from $26.61 to $27.29 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

MidAmerican, a Des Moines energy services provider, sold 2,674,000 shares of Constellation Energy's stock between Jan. 6 and Jan. 22 and reported an 8.65% stake in the company, a prior SEC filing said.

The investors beneficially own 14,831,107 shares of Constellation Energy, a Baltimore energy products provider.

MidAmerican sought to buy Constellation for approximately $4.7 billion, or $26.50 per share, but the deal was terminated in December after Constellation agreed to sell a 49.99% interest in Constellation Energy Nuclear Group, LLC to Électricité de France SA for $4.5 billion.

As a result of the termination, MidAmerican will receive a $175 million termination fee plus $17 million of accrued dividends on series A preferred stock and a cash payout of approximately $418 million in lieu of Constellation common stock, it was previously reported.

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