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. Last Updated: 07/27/2016

Entergy Sells U.K. Unit

NEW ORLEANS -- Entergy Corp. is selling London Electricity, a regional power distribution company in London, to France's national electrical utility for $3.18 billion.

The deal announced Monday was the second major transaction involving Entergy's overseas distribution companies in a week. Entergy agreed Nov. 23 to sell CitiPower, based in Melbourne, Australia, to U.S.-based AEP Resources Inc. for $1.1 billion.

The sale of London Electricity to Electricit? de France is the latest step in a restructuring plan under which New Orleans-based Entergy is focusing on core power-generating businesses in an attempt to increase its profitability.