Exelon's Power Unit Files for Chapter 11 Bankruptcy
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.
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
