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Drax opts for float

25 November 2005

Drax bondholders have turned down the remaining bidder – BCHP, a US consortium led by Constellation Energy Inc and hedge fund Perry Capital and featuring Blackstone Group and Hellman & Friedman - - for the UK plant and have opted for a flotation on 15 December. The listing will give Drax - the biggest coal-fired power station in Europe - an...

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