Constellation Energy Commodities Group (CEG) Announces Acquisition of Uranium Trading Firm Nufcor International Limited
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Constellation Energy (NYSE: CEG) announced its subsidiary, Constellation Energy Commodities Group Limited, acquired 100% of the shares of Nufcor International Limited from AngloGold Ashanti Limited and FirstRand International Limited.
Nufcor is a leading uranium market participant active across the nuclear fuel chain. Its producer services business has entered into a number of off-take arrangements and marketing service agreements with uranium producers.
Capitalizing on its strong presence in the physical uranium market, Nufcor will be actively exploring new risk management offerings to the increasingly sophisticated financial uranium buyers in North America, Europe and Asia-markets where Constellation Energy already has a strong commodities presence.
"The acquisition of Nufcor is a natural extension of Constellation Energy's expanding global commodities business and will broaden the company's world-class risk management capabilities across new fuel markets," said Thomas V. Brooks, executive vice president, Constellation Energy.
Constellation Energy is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller.
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