Edison Mission Energy will emerge from bankruptcy liability-free under a settlement that gives its parent, Edison International, a net benefit of $200 million, Chief Executive Officer Ted Craver of Edison International said, Bloomberg News reported yesterday. The settlement “reduces risk and allows investors to focus more on the core Edison International investment thesis,” Craver said yesterday. The settlement, which needs bankruptcy court approval, was announced today in a filing with the U.S. Securities and Exchange Commission. Edison Mission, which filed for bankruptcy in December 2012, is seeking to emerge by selling its business to NRG Energy Inc. for $2.64 billion.
