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<p>The parent company of Talen Energy&#8217;s Susquehanna&#8217;s nuclear power plant in Salem Township has been acquired by Riverstone Holdings LLC, the company announced Friday.</p><p>PPL Corporation, the former owner of the power plant, spun off their generating assets last year, forming Talen Energy. During the spinoff, Riverstone&#8217;s employees owned near 35 percent of Talen&#8217;s stock.</p><p>According to a press release announcing the merger, the agreement between Talen and Riverstone stated that any stock not owned by Riverstone will be acquired for $14 per share in cash, and Riverstone will buy the remaining stake in Talen Energy at $1.8 billion. The financing for the acquisition is a combination of Riverstone&#8217;s cash on hand, the existing stock ownership of Talen Energy by Riverstone and a $250 million loan. The value of the transaction is estimated at $5.2 billion.</p><p>Talen owns 23 plants spanning eight states, with the majority of them natural gas. According to a Todd L. Martin, manager of media relations for Talen Energy, the Salem Township plant is the only nuclear power plant for Talen Energy.</p><p>Martin also said there will be no &#8220;immediate implications&#8221; for employees.</p><p>&#8220;(The acquisition) will take a significant amount of time,&#8221; Martin said, noting the deal still needs to be regulatory and shareholder approved.</p><p>As of the market&#8217;s close Thursday, Talen Energy stock was at $11.94; on Friday, right after the stock market opened and the announcement of the acquisition was made, Talen Energy stocks went to $13.90 and held steady throughout the day, ending at $13.99 at the 4 p.m. closing bell.</p><p>Riverstone was founded in 2000 and has offices in New York, London, Houston and Mexico City. Its website states the company has close to $30 billion in more than 120 investments across five continents.</p><p>The acquisition is expected to be completed by the end of 2016.</p><style>
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<div class="neCaption">Talen Energy Power Plant, in Salem Township, from June 1993. </div></div><div class="metaInfo"><photo0>https://www.timesleader.com/wp-content/uploads/2016/06/web1_susquehanna-steam-nuclear-plant-toned.jpeg</photo0><caption0>Talen Energy Power Plant, in Salem Township, from June 1993. </caption0><photoCredit0></photoCredit0></div></div>
<div class="metaInfo"><bylineMeta><p>By Melanie Mizenko</p><p>mmizenko@www.timesleader.com</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>Reach Melanie Mizenko at 570-991-6116 or on Twitter @TL_MMizenko</p></shirttailMeta></div>

Riverstone Holdings acquires Susquehanna nuclear power plant