ML20215M679

Notice of Proposed Corporate Restructuring Per Util

ML20215M679
Person / Time
Site:	Palisades, Big Rock Point, 05000000
Issue date:	05/11/1987
From:	Virgilio M Office of Nuclear Reactor Regulation
To:
Shared Package
ML20215M393	List: ML20215M392 ML20215M679
References
NUDOCS 8705140088
Download: ML20215M679 (2)

Text

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o 7590-01 UNITED STATES NUCLEAR REGULATORY COMMISSION CONSUMERS POWER COMPANY DOCKET N05. 50-155 AND 50-255 Notice is hereby given that the United States Nuclear Regulatory Commission (the Comission) is considering approval under 10 CFR 50.80 of the proposed corporate restructuring of Consumers Power Company (CPCo), the owner and

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licensee for the Big Rock Point and Palisadas nuclear plants. By letter dated April 16, 1987, CPCo informed the Comission that the Board of Directors has -

proposed a corporate restructuring plan to be presented at the May 6, 1987 annual shareholders meeting. If a majority of CPCo shareholders approve the plan, CPCo will become a wholly-owned subsidiary of a new holding company, CMS Energy Corporation, effective on or about May 22, 1987. CPCo would remain as holder of the licenses for Big Rock Point and Palisades. If the plan is approved, the comon stock of CPCo will be converted on a share-for-share basis into comon stock of the holding company. The current CPCo Board of Directors will serve in the same capacity for the holding company, ar.d there will be no significant change in ownership, management, or sources of funds for operation of the Big Rock Point or Palisades plants, according to the proposed plan.

Pursuant to 10 CFR 50.80, the Commission may approve the transfer of control

of a license, after notice to interested persons, upon the Comission's determination that the holder of the license following the transfer is i

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qualified to have the control of the license and that the transfer of such control is otherwise consistent with applicable provisions of law,. regulations and orders of the Commission.

Dated at Bethesda, Maryland, this lith day of May,1987.

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N\ 'gD k J'L% 0 W

Martin J. Virgilio, Acting Director Project Directorate III-1

_, Division of Reactor Projects - III, IV, V

. & Special Projects

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